Forecast for GBP/USD on February 19, 2021

GBP/USD

The British pound showed growth faster than the market once again on Thursday, adding 117 points. The price has reached the target range of 1.3950/65, now it is returning downwards from it. If the US dollar strengthens its offensive in the market, the pound can also quickly return back, and after falling below the 1.3835 level, it will decline to the MACD line to the 1.3650 area. But the dollar has not yet come, and if weakening continues, the pound may reach the upper target of 1.4070. Today is a day of uncertainty, markets are determined with actions for the next week.

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A double price divergence has formed with the Marlin oscillator on the four-hour chart. This is, of course, a good factor for price reversals. But the price is significantly higher than the MACD line, while Marlin has not yet entered the bears' territory, so we are waiting for the development of events.

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

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