Forecast for the EUR/GBP cross rate for February

Posted On 29 Jan 2020

EUR/GBP

On the daily chart of the EUR/GBP pair, the price shows growth for the fourth session after its reversal from the MACD line. A month earlier, on December 31, the price made the first rebound from the same line, after which it formed a wide-range correction. A repeated price reversal from the MACD line according to data leads to a trend movement. At the same time, a long convergence was formed by the Marlin oscillator from October to December last year, which has not yet been realized in a trendy or deep corrective movement.

The growth target is the 0.8722/86 range, formed by the extremes on March 21 and September 20, 2019. The line of the rising price channel lies in this range. The deadline for reaching the target range, taking into account the weekend of March 12.

The price is held by the MACD line on the four-hour chart, the pair could possibly begin to grow from it in the near future. The Marlin oscillator in the growth zone.

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

Source:: Forecast for the EUR/GBP cross rate for February

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