FX.co ★ Forecast for GBP/USD on April 16, 2021

GBP/USD

The British pound rose by only 9 points on Thursday, and in today's Asian session it is falling towards the Wednesday opening (closing on Tuesday). The Marlin oscillator is turning down on the daily chart without reaching the zero line. The growth that has been observed in the last four days is probably over. Now the price is facing the 1.3625 target.

The price passed the area below the MACD line on the four-hour scale, while Marlin attacked the border of the bears' territory. Visually, Marlin will move into the negative zone with the price reaching the 1.3735 level. We will define this level as a signal level. So, before the price drops below 1.3735, we are waiting for the pound to fall to 1.3625. Having the pair settle in the area below it will open the second target at 1.3460.