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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast for GBP/USD on April 18, 2024
23:12 2024-04-17 UTC--4
Exchange Rates analysis

GBP/USD

Yesterday, the British pound failed to settle above the level of 1.2427 and rose by 28 pips while the dollar temporarily showed broad weakness.

The signal line of the Marlin oscillator has entered the upper half of its own descending channel. Another drop below the support at 1.2427 makes it possible for the price to reach the target of 1.2370. The pair can correct higher once the price surpasses yesterday's peak at 1.2480 and moves towards the support area of February and March (1.2515/30).

analytics66208ba81899c.jpg

On the 4-hour chart, the price continues to consolidate above the level of 1.2427. During this time, the signal line of the Marlin oscillator has entered the uptrend territory. Perhaps it is time for it to move downwards.

If the upward movement persists, the bulls will face a serious challenge in fighting the MACD line (1.2497), which coincides with the April 15 high. Consolidation below the support level paves the way for the price to reach the nearest target at 1.2370.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.