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21.05.202105:59 Forex Analysis & Reviews: Forecast for GBP/USD on May 21, 2021

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GBP/USD

Yesterday, the British pound returned to the level where it closed on Tuesday, and this morning it's declining again. The price does not dare to rise above the resistance of 1.4244 (high on February 24), or to overcome the low on Wednesday. The price has set a range for itself within the trading of the last three days. But the Marlin oscillator is going down, the main trend is going down. If the price moves under the MACD line, in the area of 1.4055, will open the medium-term perspective of a decline (1.3800).

Yesterday, the price turned to the upside from the MACD line on the four-hour chart. Earlier there was a reversal on May 13 (arrow), but much stronger. The third attempt to overcome this moving support can be successful. Consolidating under the MACD line (1.4135) will become a strong signal to attack the same line on the daily scale (1.4055).

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