empty
 
 
26.02.2024 05:01 AM
Forecast for GBP/USD on February 26, 2024

GBP/USD

Although pound rose above the MACD line (blue) last Friday, it closed below the balance indicator line (red). Nevertheless, with a rising Marlin oscillator, the trend remains bullish, indicating further growth. But in the event that bulls fail to break through the robust two-month range of 1.2610-1.2745, the pair may return below the MACD line, heading towards the support levels of 1.2610 and 1.2524.

This image is no longer relevant

The first sign of such a scenario would be the price surpassing Friday's low (1.2647), automatically breaking through the MACD line. The Marlin oscillator already shows signs of a reversal. However, if today's candle closes as white, the pair will continue to rise, moving towards 1.2745.

This image is no longer relevant

On the four-hour chart, the Marlin oscillator continues to form a range above zero. A consolidation below 1.2647 may coincide with the indicator turning negative. Since the MACD line already reached the target level of 1.2610, a breakdown will give the trend an additional impulse for a decline.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback