Forecast for GBP/USD on April 4, 2019

GBP/USD

Over the past day, the British pound has entered the consolidation range of 1.3158-1.3244, within which it will be very difficult to move the price up. On the four-hour chart, the price is above the balance and MACD indicator lines, but yesterday there was an attempt to move below the balance line (red), but due to a combination of factors it was weak. Today the situation has become a little more bearish.

gd2pDmcq9-cBSJ3XS7jEa6Z7bDgu27z6wlszAED7

9X5sYq06R9ieh1LE6X0PB_QKX7OvkmDLFngBonyH

On the daily chart, the signal line of the Marlin oscillator has reached the boundary of growth territory, from which the reversal of this signal line down is possible. The withdrawal of the price below the MACD line on a daily scale (1.3048) finally reveals the pound's medium-term prospect of a decline. The first target is the price channel line of the higher timeframe at the price of 1.2864. Below is the target range of 1.2772-1.2814.

The material has been provided by InstaForex Company - www.instaforex.com

Comments