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

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).

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

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;

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- 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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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