FX.co ★ Forecast for GBP/USD on March 4, 2019

GBP/USD

On Friday, the British pound, which was under pressure, fell by 55 points. The price divergence with the marlin oscillator on the daily scale intensified; on the four-hour chart, the signal line of this indicator penetrated deeper into the zone of decline. It is also noticeable that the line of balance entered the business on a four-hour scale - prices were supported by this particular line. As a result, in order to continue reducing the price, it is necessary to consolidate below Friday's low, which will mean consolidating below the balance line and gaining strength before forming a break at 1.3108, where they are concentrated: the February 20 high (arrow), daily balance line, Krusenstern line on H4. Overcoming this signal level will open the way to a further decline to the target level of 1.2940 - the level of coincidence of the Krusenstern line of the daily chart and the price channel line.