FX.co ★ Forecast for GBP/USD on May 14, 2021

GBP/USD

Yesterday, the British pound traded in the range of target levels 1.4004-1.4077 (levels have been corrected), and the support coincided with the MACD indicator line. It is, of course, difficult to overcome such a line in such a neutral market.

The day closed near the opening level. The signal line of the Marlin oscillator approached the lower border of its own channel. Surpassing its lower border will increase pressure on the price. The signal level becomes 1.4004, consolidating the price below it opens the way for a deep fall to the low on May 3 at 1.3800.

The price is gathering strength above the MACD line on the four-hour scale. Falling below the signal level of 1.4004 will also correspond to the consolidation below the MACD line. As a result, a falling signal will be generated simultaneously on two timeframes.