Technical analysis. Daily forecast for GBP/USD, February 19, 2021

Trend analysis (pic. 1).

On Friday, the pair reversed from the level of 1.3970 (the closing of yesterday's daily candle). It is trying to go down to the target level of 1.3886, which is 8 average EMA (blue thin line). When this line is reached, the price may continue to decrease to the target level of 1.3843, which is 13 average EMA (yellow thin line).

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On Friday, the pair reversed from the level of 1.3970 (the closing of yesterday's daily candle). It is trying to go down to the target level of 1.3886, which is 8 average EMA (blue thin line). When this line is reached, the price may continue to decrease to the target level of 1.3843, which is 13 average EMA (yellow thin line).

Pic. 1 (Daily chart).

Comprehensive analysis

-technical analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger bands - down;

- weekly chart - down.

Conclusion:

Today, from the level of 1.3970(the closing of yesterday's daily candle) the pair is likely to start moving down to the target level of 1.3886, which is 8 average EMA (blue thin line). When this line is reached, the price may continue to move down to the target level of 1.3843, which is 13 average EMA (yellow thin line).

Alternative scenario: from the level of 1.3970 (the closing of yesterday's daily candle), it is likely to continue to move up to the target level of 1.4078 – the upper limit of the Bollinger Line indicator (the black dotted line).

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

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