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24.05.201906:35 Forex Analysis & Reviews: Forecast for GBP/USD on May 24, 2019

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GBP/USD

On Thursday, the British pound pushed the support of the first target level of 1.2660, but could not gain a foothold below it due to the sharp weakening of the US dollar throughout the market. The intention of the United States to impose sanctions against the Chinese company Hikvision fuelled market participants. A convergence with the Marlin oscillator, a signal line in the growth zone, formed on the four-hour chart. A corrective increase in the price to the balance line (1.2718) or higher to the MACD line (1.2763) is possible. Today, retail sales in the UK in April might fall by -0.3%, but in the US the volume of orders for durable goods in April may show a decline of 2.0% against the previous growth of 2.6%. Today we expect a moderate growth, rather from the effect of closing positions ahead of the European Parliament elections, which will be announced on Monday morning.

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