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

Forecast for GBP/USD on April 20, 2021


The pound soared 150 points yesterday, without any media reports about what happened. The optimism regarding the partial lifting of restrictions in England can hardly be taken as the main one. Nevertheless, the pound is determined, it has already crossed the MACD line, and after the price consolidates above the 1.4016 level (high on March 4 (checkmark), conditions are created for a prolonged attack on the February 24 high, to approximately the level of 1.4260.

Forecast for GBP/USD on April 20, 2021

The price has consolidated above the target level of 1.3955 on the four-hour chart, the Marlin oscillator is slightly decreasing, removing tension, it seems, before the previous rally. But to confirm the signal, the price should settle above the reference level of 1.4016.

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Forecast for GBP/USD on April 20, 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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