FX.co ★ Forecast for GBP/USD on February 18, 2019

GBP/USD

On Friday, the price level of 1.2784 - a low from September 5, turned out to be a powerful support for the pound. The price moved up from it, cutting off the bodies of the candles of the previous two sessions and closing above the Krusenstern line on the daily chart. Now the target is the resistance of the price channel line at 1.2973. Overcoming the resistance will allow the price to increase to 1.3048 - the low of June 28 last year - the pound is currently working well at record levels. This level also coincides with the Fibonacci correction level of 61.8% from the descending branch of January 28 - February 14.