FX.co ★ Forecast for GBP/USD on April 8, 2021

Forecast for GBP/USD on April 8, 2021


Yesterday, the British pound went down ahead of other major currencies (falling by 84 points), which, when taking on the role of driving the decline, also creates a small corrective moment, since the price reached a strong resistance level in the third decade of January and support on March 30-31... The signal line of the Marlin oscillator has confirmed a reversal from its own zero line, therefore, after the price settles below yesterday's low, we are waiting for it to move down even further. The nearest target is 1.3625, followed by 1.3469.

Forecast for GBP/USD on April 8, 2021

The price settled below both indicator lines on the four-hour chart: below the red balance line and the blue MACD line. The Marlin oscillator is already turning up, which indicates a consolidation correction in the area of an important level reached. This level is determined by yesterday's low at 1.3724, settling below which will move the trend deeper down.

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Forecast for GBP/USD on April 8, 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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