05.04.201906:28 Forex Analysis & Reviews: Forecast for GBP/USD on April 5, 2019

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

Yesterday, the British pound could not withstand the tension as it fell out of the consolidation zone under its lower limit of 1.3158, lost 82 points and also consolidated below the MACD four-hour scale. The marlin oscillator on H4 also moved to decline territory. On the daily chart, the signal line of the marlin oscillator turned down from the border with the growth territory, as we expected in the description of the main scenario.

So, the price continues to consolidate below the MACD daily scale (1.3048), in order to continue to decline towards the embedded line of the price channel in the area of 1.2864. A target range of 1.2772-1.2814 is below it.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.