FX.co ★ Forecast for GBP/USD on May 20, 2021

GBP/USD

The pound was down 72 points yesterday, confirming the divergence on the daily chart with the Marlin oscillator. The price is now moving towards meeting the MACD line in the area of 1.4040. Around the same time, the signal line of the Marlin oscillator will reach the border with the bears' territory, here further price behavior will be decided - either it will become corrective, growing, or an intensified decline to 1.4004 and deeper to 1.3900 will continue.

The price falls below the MACD line on the H4 chart, it is helped by the Marlin oscillator, which has already settled in the declining trend zone. The first target of 1.4040 is the MACD line on the daily.