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01.04.201906:18 Forex Analysis & Reviews: Forecast for GBP/USD on April 1, 2019

Long-term review

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GBP/USD

On Friday, the British pound traded with an amplitude of 90 points following the British Parliament's decision to reject Theresa May's draft agreement with the EU. No matter how absurd it looked, politicians chose the option of "hard" Brexit, without a deal. Perhaps now the UK and the US will once again undertake the creation of new Trans-oceanic trading partnerships. This is a factor in the long-term strengthening of the dollar. However, it is too early to talk about it.

At the moment, we see that the pound sterling has gone below the MACD line on the daily chart and opened the immediate goal of supporting the embedded trendline of the price channel at 1.2883. Overcoming support will allow the price to fall in the range of 1.2772-1.2814, formed by the high of December 31 and the low of February 14.

All indicators readings indicate a decline on the four-hour chart.

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