FOREX: GBP/USD Forecast | 19-23 Apr

in relation to:FOREX: 12-16 Apr GBP/USD Review | 19-23 Apr GBP/USD Forecast

an update of above entry.

credit to forexfactory.com for its live chart

Between A, B, and C trend, A is more likely and logically to occur. C may occur IF only serious some event took places next week that encourage traders to long on USD. Such event could be Labour win over Tories.

These are based on D1 chart, both CCI and RSI are pointing downward; supporting A and C. In addition, USD falls 0.22 pc compared to GBP that gained 0.33 pc. However, it is safe to keep in mind that USD economic indicators are not that good either.

B, are the less likely to take place. However, if Monday market open is higher than Friday close, perhaps, B is it. B+sideways a more logical. Furthermore, on M1, M5, M30, H1, and H4 chart, RSI, CCI and MACD are at the bottom, with all 3 crosses at M1, and M5. M30 and H1 are expected to cross a few hours after Monday open. H4 however, the gap between MACD with RSI and CCI are huge, which, crosses may occur on Tuesday or Wednesday.

I’m strong on A.