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06.05.2021 05:35 AM
Forecast for GBP/USD on May 6, 2021

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.

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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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Laurie Bailey,
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