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26.04.2019 07:10 AM
Forecast for GBP/USD on April 26, 2019

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.

This image is no longer relevant

This image is no longer relevant

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.

Laurie Bailey,
Analytical expert of InstaForex
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