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20.04.202004:43 Forex Analysis & Reviews: Forecast for GBP/USD on April 20, 2020

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GBP/USD

The pound grew by 66 points last Friday, finding the MACD line with strong resistance and retreating from it by the end of the day. Today, it begins with a fall.

The signal line of the Marlin oscillator is turning down more and more clearly. For a more pronounced downward movement of the price, it is necessary to overcome Friday's low of 1.2405, which will be a condition for a fall to the Fibonacci level of 161.8% at the price of 1.2235. Furthermore, it is possible to fall to the Fibonacci level of 200.0% at the price of 1.1935.

The price is below the balance indicator line on the H4 chart - the market balance is clearly declining. The Marlin oscillator is in the negative trend zone. We look forward to pulling down the British pound further.

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