FX.co ★ Forecast for GBP/USD on February 7, 2019

GBP/USD

On Wednesday, the British pound fell by only 16 points, as investors were constrained by waiting for the outcome of today's meeting of the Bank of England. According to the general opinion of consulting agencies, no changes in BOE policy will occur. On the daily chart, the Marlin oscillator signal line is fixed in the decline zone.

Therefore, the immediate task of the pound is to overcome the support of the Krusenstern line on the daily chart 1.2880. Further, on the path of the pound to support the price channel line (1.2625), there is support for 1.2784 - a low of September 5 of the previous year. Perhaps it will not be overcome on the first attempt. The daily balance line moves to this level. Perhaps a local reversal will occur at the point of coincidence of this line with the price level.