FX.co ★ Forecast for GBP/USD on May 24, 2021

GBP/USD

Last Friday, the pound slightly fell short of the target level of 1.4244, but the growth shown by the upper shadow was sufficient to form a small double divergence on the daily chart. The Marlin oscillator is still in the growth zone, the MACD line is one hundred points below the current price, so the movement to it (to the MACD line as the first target) may not be fast.

The double divergence is clearly visible on the four-hour chart, Marlin is in the zone of negative values, and the price itself has already surpassed the MACD line. The task is to settle below this line and strengthen the downward trend.