Forecast for GBP/USD on February 26, 2021

GBP/USD

The technical spike, that the British pound formed on Thursday, completely worked out yesterday - the pair dropped 128 points. The price reached the target range of 1.3950/65 this morning. Falling below the lower border of this range opens the next target at 1.3830 - the low on February 17. A correction is likely from this level, since by this time the signal line of the Marlin oscillator will reach the border with the territory of the downtrend and, most likely, will not overcome it on the first attempt.

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The price settled below both indicator lines on the four-hour chart - balance and MACD, while Marlin is deeply in the negative zone. The trend is completely downward.

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

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