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GBP / USD analysis and forecast from April 23, 2021_GBP / USD: sellers seized the initiative

GBP / USD Review of April 23, 2021


In the Asian session on Friday, GBP / USD is trying to regain some of the losses from yesterday’s decline, caused by strong statistics from the US labor market.

The day before, a report on applications for unemployment benefits was published in the United States, showing 547 thousand applications against a forecast of 617 and last month’s indicator of 586 thousand.

Markets are awaiting the April UK Manufacturing and Services PMIs from Markit today.

Technical Analysis of GBP / USD

The Bollinger Bands indicator is flat on the day chart.

Also read  Analysis of GBP / USD. April 23. UK retail sales jumped in March, but that didn't help the Briton much

The MACD indicator in the positive area is rapidly decreasing to the zero level and is holding a weak sell signal.

Stochastic declines in the middle of the working range.

We consider the downward direction to be a priority.

gbpusd_daily
gbpusd_daily

In case of a breakdown below 1.3822, open sells with a target at 1. 3750. Set a protective stop at 1.3860.

The return of the bullish dynamics will be indicated by a confident breakout and consolidation above 1.3900. The nearest target of buyers is 1.4000. Placing a stop loss at 1.3850.

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