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26.04.201907:10 Forex Analysis & Reviews: Forecast for GBP/USD on April 26, 2019

Long-term review

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GBP/USD

The British pound fell by 5 points on Thursday. The retail sales data for April helped it withstand pressure from the dollar, according to the CBI, the balance of which increased from -18 to 13 while waiting for 0.

On the daily chart, the price continues to decline as the marlin oscillator signal line drops below its trend line resistance.

On the four-hour chart, the price is also falling without strong jerks, which caused the oscillator to recover to a zero balanced line. The price has strong resistances, we do not think that a neutral marlin can develop an upward trend in this situation, its growth is more consistent with the discharge before a further decline.

The target for a decline remains the same - support for the price channel at 1.2832. If today's data on US GDP for the 1st quarter will be better than the forecast (2.2%), then we will be able to see the price in a range of 1.2772-1.2814 at the beginning of next week.

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