Forecast for GBP/USD on Feb 27, 2020

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GBP/USD

The British pound lost a little over a hundred points on Wednesday, taking the technical conditions for a further decline. The Marlin oscillator on the daily chart is back in the declining trend zone. The immediate target of 1.2842 at the Fibonacci level of 110.0% is open. Below it is the second target at the level of 123.6% at the price of 1.2758.

On a four-hour chart, the price consolidated under the MACD line (blue moving line), Marlin in the zone of negative values. The price continues to fall.

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The material has been provided by InstaForex Company – www.instaforex.com

Source:: Forecast for GBP/USD on February 27, 2020

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