FX.co ★ Forecast for GBP/USD on May 27, 2022

Over the past day, the pound has grown a bit and is currently approaching the target level of 1.2637 - the high on May 4th. If the price overcomes this level, then it will have the opportunity to work out the resistance of the MACD indicator line, around the level of 1.2715. The Marlin Oscillator slows down the rate of growth and may reverse to the downside, so moving towards 1.2715 does not look like an easy task. If the price settles above 1.2715, then this will become the basis for growth to 1.2970.

On the H4 chart, the broken line of the Marlin Oscillator can hardly be called a divergence with the price, but nevertheless its downward trend, which also raises the question - can the price reach 1.2715 or not?