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.
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.
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.