GBPUSD Intraday Technical Forecast


How is the GBPUSD pair trading today?  What is behind today’s volatile moves of the pair? The 20 February GBPUSD Intraday Technical Forecast explains.

20 February, OctaFX – The British pound has encountered another choppy trading session against the greenback, with ongoing Brexit news the driving force behind today’s volatile moves. The GBPUSD pair briefly spiked above the key 1.4000 level on UK supportive Brexit news but was quickly met with another round of strong selling.

Price-action is now consolidating around the 1.3970 level, after earlier finding strong technical support from the 1.3930 region.

20 February GBPUSD Intraday Technical Forecast

  • The GBPUSD pair is likely to advance higher once the 1.4000 level is clearly breached. Key intraday upside targets remain 1.4036 and 1.4074.
  • If the GBPUSD pair moves below the 1.3938 support level, we may see sellers attempt to push price-action towards the 1.3901 level.

Disclaimer

This article about 20 February GBPUSD Intraday Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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