FX.co ★ Forecast for GBP / USD pair on May 28, 2019

GBP / USD pair

On Monday, the price reached the Fibonacci correction level of 23.6% as indicated on the daily chart. This level coincided with the MACD line on the four-hour chart, which together became an irresistible resistance for the price. The pound closed the day with a decrease of 33 points. The price before is not very strong support to 1.2660 at least August 15, 2018, in the present condition. Thus, overcoming it opens the way from 1.2530 – at least December 14, 2018. The US economic data can help this price, where the house price index for March is expected to increase by 0.2%. Data from the Conference Board on consumer confidence index for May is projected to increase from 129.2 to 130.1.