FX.co ★ Forecast for GBP/USD on April 19, 2021

GBP/USD

The pound traded in a wide range of 128 points last Friday, covering the trading range of the previous two days. This is a sign of a downward reversal. The Marlin oscillator on the daily chart has barely entered the growth zone and shows an intention to return to the negative zone. In this case, the history of the previous two false exits of the oscillator will be repeated, after which sharp price reductions took place. These places are marked with gray ovals. The target of the movement is 1.3625.

The price aims to fall under the MACD indicator line (1.3780) on the four-hour chart. Going under it will confirm the development of the downward movement. And by this moment, the Marlin oscillator will go into negative territory, the price transition below 1.3780 will also become a signal to open short positions.