GBPUSD TECHNICAL ANALYSIS & SETUP WEEK 24 FEB 2020

GU HAS BROKEN THE MON 23 DEC 2019 @ 1.29051; GU IS TESTING 1.29755 INDICATING A
FURTHER DECLINE FOR THE PAIR WITH R&S @ 1.32098 FRIDAY 31 JAN 20 AND @ 1.295051 MONDAY 23 DEC 19


PRICE TARGET PROJECTIONS ARE:

@1.25276
@1.22945

H4 INDICATORS

RSI @50%
STOCHASTIC @ OB 80%
PRICE BELLOW 50% MA

MARKET CALENDAR
WED 26 FEB 15PM MOM
TUES 25 FEB 15PM CCI
THUR 27 FEB 10 AM EUR CPI 13:00 GDP
FRID 28 FEB 7 AM UK MOM


PAIRS THAT CORRELATE: GBP/CAD, GBP/NZD, GBP/AUD

The GBP/USD is the pairing of the British pound and the United States dollar. Also known as “cable,” GBP/USD is the third most traded pair. Price movements in cable are known to correlate with EUR/USD. Since the pair isn’t as liquid as the EUR/USD, GBP/USD experiences more aggressive price movements when U.S. data is released. The UK boasts the second-largest economy in the eurozone, after Germany.