Black Pipper

Forex Dreamers

General analysis and forecast of GBP / USD for today, april 20, 2021

GBP / USD is sharply strengthening and at the moment it begins to test the important resistance of 1.4000.

The positions of the sterling remain quite confident, as the UK continues to reduce restrictive measures. In addition, the strengthening of the pore supports the weakness of the US dollar.

Tomorrow in the UK will be published data on consumer inflation and retail prices for March, as well as a speech by the head of the Bank of England.

Technical analysis

The Bollinger Bands indicator on the daily time frame chart (D1) is in a moderate rise.

The MACD histogram has moved into a positive range and is holding a strong buy signal.

Also read  Plan for the European session on June 15. Commitment of Traders COT reports (analysis of yesterday's deals). Euro buyers

Entry into long positions can be considered after a firm consolidation above the key resistance 1.4000. The closest target is 1.4150. Stop loss is set at 1.3924.

In case of failure of buyers, a rebound from 1.4000 will not yet be a signal to sell. It is recommended to wait until the asset consolidates below 1.3924 and from here open short positions in the direction of 1.3800. Set your stop loss at 1.4000 or slightly higher.

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