Black Pipper

Forex Dreamers

General analysis and forecast of GBP / USD for today, April 22, 2021

For the second day in a row, GBP / USD remains in a narrow price range, consolidating after the rapid strengthening of the beginning of the week.

The UK reports published yesterday were able to provide local support to the pound. In March, the consumer price index rose 0.3%, in line with analysts’ expectations. Consumer inflation on an annualized basis is accelerating from 0.4% to 0.7%, which is only 0.1% better than forecasted. The core producer price index remained at 1.7% last month, while the retail price index in March fell from 0.5% to 0.3%.

According to statistics, unlike the United States, where inflation is outstripping the calculated indicators, in the UK the process is quite restrained and is controlled by the Bank of England.

Also read  How to trade the GBP / USD currency pair on April 20?

Technical analysis

Bollinger Bands indicator is being rebuilt in the horizontal direction with expansion in the upper part of the range.

The MACD histogram has moved into a positive range and will continue to grow, maintaining a buy signal.

Stochastic, on the other hand, broke through the 80% level from top to bottom and left the area of ​​maximum values.


Taking into account the development of a downward correction, we are considering entering short positions with a breakdown of support at 1.3900. Target 1.3800. Stop loss is set at 1.3950.

A confident break above 1.3960 will signal a return to the uptrend. The target becomes 1.4050. Setting a stop loss at 1.3910.

Also read  Analysis and forecast for GBP / USD for April 30, 2021

Leave a Reply

Your email address will not be published. Required fields are marked *