20.02.201908:45 Forex Analysis & Reviews: Forecast for GBP/USD on February 20, 2019

Long-term review

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GBP/USD

Yesterday, the British pound continued a planned and expected upward movement. The price overcame the resistance of the price channel line (1.2973) and reached the nearest target of 1.3048. On the four-hour chart, the price has already consolidated above the level, now the target is the high on November 7 - 1.3174. The reason for such rapid growth was the optimistic expectations of investors regarding today's meeting between Theresa May and Jean-Claude Juncker on the Irish border. But Juncker admitted that he didn't know what May's proposal was, just as there was no leakage from the UK, which could be a sign of another failure of the negotiations. Nevertheless, the purely technical picture in all respects is increasing; On the daily chart, the Marlin oscillator has moved to the growth zone of the trend; on the four-hour chart, the same indicator shows no warning signs of a downward reversal. With caution, but still waiting for the continuation of growth to 1.3174.

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