26.05.202205:13 Forex Analysis & Reviews: Forecast for GBP/USD on May 26, 2022

As a result of yesterday, the dollar index rose by 0.34%, but the British pound strengthened against the dollar by 0.35%. And this is despite the fact that the day before, on Tuesday, the British PMI showed a collapse; the services sector (for May) index fell from 58.9 to 51.8, in the manufacturing sector from 55.8 to 54.6. Minutes released yesterday from the Federal Reserve's last FOMC meeting showed that all committee members voted in favor of a 0.50% rate hike. The optimism is clearly short-term. We are waiting for the price to return to the target range of 1.2436/76 and further to the level of 1.2250.

Exchange Rates 26.05.2022 analysis

A fuzzy triple price divergence with the Marlin Oscillator has formed on the four-hour chart. The MACD line penetrates the nearest target range, strengthening its influence and ideological significance – the price moving below it will entail a pronounced decrease.

Exchange Rates 26.05.2022 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
Can't speak right now?
Ask your question in the chat.