27.04.202305:01 Forex Analysis & Reviews: Forecast for GBP/USD on April 27, 2023

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GBP/USD

The British pound continues its sideways movement in anticipation of the FOMC meeting next week. The upper limit of the range is the April 14th peak at 1.2545. Breaking through it will extend growth to 1.2598. Slightly higher is the second target level of 1.2666 – the peak of May 2022.

A sign of further price growth is the Marlin oscillator, turning upwards from the zero line – from the limit of the area of the downtrend.

If the price falls, the range will end with overcoming the MACD line (1.2342).

On the four-hour chart, the price has consolidated above the indicator lines, and the signal line of the Marlin oscillator is in the positive area. The pound has a good chance of surpassing yesterday's peak. Especially if today's US GDP data turns out to be lower than forecasted.

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