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27.05.202107:05 Forex Analysis & Reviews: Forecast for GBP/USD on May 27, 2021

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GBP/USD

The pound weakened against the dollar yesterday, along with the rest of the world's currencies. Today, US GDP data for the first quarter will be released in the second estimate and it is expected to be revised up from 6.4% to 6.5%, the April growth in orders for durable goods may show an increase of 0.7%. Also, tomorrow's consumer inflation indices are expected to increase. Investors decided not to take risks and bring their investments to a more balanced state.

For the British pound, this balance is seen in the range of 1.3800-1.4004, where it has been with brief exceptions. The first target and support on this path is the MACD indicator line in the area of 1.4060. Consolidating on it will enable the price to go under the upper limit of the specified range of 1.4004.

The price is cheerfully declining under the balance and MACD lines on the H4 chart, the Marlin oscillator is in the bears' territory, we are waiting for the price to fall further.

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