22.02.201908:38 Forex Analysis & Reviews: Forecast for GBP/USD on February 22, 2019

Long-term review

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GBP/USD

Theresa May cannot advance in Brexit negotiations. In the British Parliament, dissatisfaction is increasing, and Parliament already agrees to postpone the Brexit date. Yesterday, the pound sterling fell slightly by 11 points. On both of the graphs, daily and H4, the Marlin oscillator signal line simultaneously approached the border with the decline zone. A synchronous signal indicator will strengthen the negative dynamics. On the daily chart, the price consolidates below the Fibonacci level of 61.8%, which increases the likelihood of a decrease in the pound.

The first target level is to support the daily price channel line - 1.2967, followed by a Fibonacci level of 23.6%, which coincides with the Krusenstern line. Leaving the price below starts the mid-term decrease of the British pound. This is currently the main scenario. In the event of optimistic news on the negotiations, the pound may rise to 1.3174 - the high on November 7 of last year.

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