empty
14.02.2024 04:50 PM
Trading Signals for GBP/USD on February 14-16, 2024: buy above 1.2512 (1/8 Murray - symmetrical triangle)

This image is no longer relevant

The British pound is trading around 1.2546 after a sharp decline from the 4/8 Murray zone towards the psychological level of 1.25. The GBP/USD pair is moving within a symmetrical triangle pattern. The instrument is likely to bounce above 1.2530 or above -1/8 Murray located at 1.2512 in the coming days.

If the British pound consolidates and trades above the psychological level of 1.25, our expectations are positive. We could see the GBP return and reach levels of the 200 EMA located at 1.2650. GBP/USD could even reach the level of 1.2763 which represents the high reached at the beginning of February.

On the other hand, in case the bearish pressure intensifies, we should expect a close below 1.2512 on H4 or daily charts. Then, GBP/USD could continue its bearish movement and could reach 0/8 Murray located at 1.2451 and finally at -1 /8 Murray located at 1.2390.

Technically, the eagle indicator is reaching the oversold zone. and it is likely that in the coming days, the British pound could consolidate above 1.2512 which could be seen as an opportunity to buy with targets at 1.2573, 1.26 15, 1.2650, and finally, at 1.2695.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dimitrios Zappas
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

Recommended Stories

Technical Analysis for the Week of July 14–19: EUR/USD Currency Pair

Last week, the pair moved downward and nearly tested the 23.6% retracement level at 1.1647 (blue dashed line), after which the price turned upward and closed the weekly candle

Stefan Doll 11:34 2025-07-14 UTC+2

Forecast for EUR/USD on July 14, 2025

On Friday, the EUR/USD pair rebounded from the 127.2% Fibonacci retracement level at 1.1712, reversed in favor of the U.S. dollar, and resumed its decline toward the 1.1645 level

Samir Klishi 11:31 2025-07-14 UTC+2

Forecast for GBP/USD on July 14, 2025

On the hourly chart, the GBP/USD pair on Friday consolidated below the 127.2% Fibonacci level at 1.3527 and continued its decline toward the next retracement level of 100.0% at 1.3444

Samir Klishi 11:25 2025-07-14 UTC+2

Cable still has the potential to continue its decline to its support level on Monday, July 14, 2025.

GBP/USD – Monday, July 14, 2025 GBP/USD is moving in a weakening condition where this is confirmed by its price movement below the 50-EMA, which is also below the 200-EMA

Arief Makmur 07:21 2025-07-14 UTC+2

The USD/CAD commodity currency pair has the potential to correct towards its pivot point today, Monday, July 14, 2025.

USD/CAD, July 14, 2025 Although the Lonnie is moving in a neutral-bullish position, there is potential for the USD/CAD commodity currency pair to test its pivot and support levels today

Arief Makmur 07:21 2025-07-14 UTC+2

EUR/USD Forecast for July 14, 2025

Friday's candlestick for the EUR/USD pair closed bearish, with the price consolidating below the daily MACD line. The objective for today is to secure a close below the 1.1692 level

Laurie Bailey 05:31 2025-07-14 UTC+2

GBP/USD Forecast for July 14, 2025

On Friday, the British pound lost more than 80 pips, breaking below the daily balance line and the key signal level at 1.3510. The decline was driven by weak

Laurie Bailey 05:31 2025-07-14 UTC+2

AUD/USD Forecast for July 14, 2025

On the daily chart, the AUD/USD pair is positioned between the MACD line (0.6551) and the upper boundary of the local price channel (blue, 0.6597). A breakout of either level

Laurie Bailey 05:31 2025-07-14 UTC+2

Forecast for EUR/USD on July 11, 2025

On Thursday, the EUR/USD pair continued its decline toward the 1.1645 level, while the 127.2% Fibonacci corrective level at 1.1712 was largely ignored by traders. A rebound from 1.1645 would

Samir Klishi 12:44 2025-07-11 UTC+2

Forecast for GBP/USD on July 11, 2025

On the hourly chart, the GBP/USD pair on Thursday rebounded from the resistance zone of 1.3611–1.3633 and resumed its decline toward the 127.2% Fibonacci level at 1.3527. A rebound from

Samir Klishi 12:20 2025-07-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.