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28.02.202405:26 Forex Analysis & Reviews: Forecast for GBP/USD on February 28, 2024

GBP/USD

Pound seems to have the intention to fall further below the MACD line. Meanwhile, the signal line of the Marlin oscillator indicates the beginning of a downturn.

Exchange Rates 28.02.2024 analysis

If the price surpasses yesterday's low of 1.2659, the pair will cross the support of the MACD line and head toward 1.2610. Falling below it will bring pound to 1.2524.

On the four-hour chart, the signal line of the Marlin oscillator exited its range, falling below zero. This strengthens the development of a bearish scenario.

Exchange Rates 28.02.2024 analysis

It will happen once the price declines below yesterday's low of 1.2659. However, resistance will be met around the MACD line at 1.2640.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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