Forecast for GBP / USD pair on April 16, 2019

GBP / USD pair

The British Pound quote for the sixth session is between the MACD lines and the balance on the daily chart. On the four-hour chart, the price is slightly above the MACD and balance lines. The Oscillator marlin moved to the border with its readings completely neutral. On the daily scale of the price, the marlin went to the border of the growth zone while maintaining the horizontal trend from it that makes a downward reversal possible. Thus, the longer the price trades in the range results to a higher probability of its fall. We are waiting for the price decline below the lower limit of the range at 1.3030-1.3135 with a further movement to 1.2840, which was the embedded line of the price channel on the daily timeframe.

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