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06.05.202105:35 Forex Analysis & Reviews: Forecast for GBP/USD on May 6, 2021

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GBP/USD

The British pound stays calm amid today's elections to the Scottish parliament, as preliminary polls show that the nationalists still lack the strength (popular support) to obtain a majority, and the pound also monitors the overall market situation, which is still calm in anticipation of Friday's US employment report. The Marlin oscillator moves horizontally on the daily chart.

On the four-hour chart, the price fluctuates under the MACD lines with short exits above it, in the range of extremes on May 3-4. Such sideways movements often carry elements of chaos, so it is recommended not to trade this pair today.

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