GBPUSD Daily Forex forecast – April 21, 2020

It looks like the pound is shelling off its gains, this, we’ve seen in the last six trading days.

For direction if that will continue or not, we’ll look at the charts.

GBPUSD forecast for today.

gbpusd dailyforecast-21-April -2020
Chart of the GBPUSD forecast for April 21, 2020

Price broke the 1.2421 support level, potentially breaking off the three-day range the GBPUSD was locked in.

A continued fall should see price testing the next two logical support levels – 1.2364, 1.2323.

After the activity of the Asian session, expect a pull-back before it continues downwards.

The most likely places to enter are around the bounces off the trendline.

Alternative scenario

We may have the GBPUSD bulls pushing the price back to the weekly pivot level – 1.2513

Final remarks.

We’ll be back tomorrow.

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