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FX.co ★ Forecast for GBP/USD on April 7, 2021

Forecast for GBP/USD on April 7, 2021

GBP/USD

The British pound did not follow the euro, the general weakening of the dollar, but turned downward from the area where the MACD indicator line coincided with the 38.2% correction level. The Marlin oscillator also turned down from the zero line. This simultaneous reversal of the price and the oscillator creates a strong downward signal. The target of this decline is the 1.3625 level.

Forecast for GBP/USD on April 7, 2021

The price has settled below the signal-target level of 1.3845 on the four-hour chart, while the Marlin oscillator is in the downward trend zone, the price is visually preparing to overcome the support of the MACD line, which coincides with yesterday's low at 1.3801.

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Forecast for GBP/USD on April 7, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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