Plastic deformation of Fe-27%Co alloy at room temperature was investigated. The present alloy, usually delivered with a low-texture component for the magnetic core in rotating machines, develops a rather high intensity of Goss texture after recrystallization, when a suitable manufacturing process is applied. Thanks to this texture and its magnetic properties, this material can replace the grain-oriented Fe-3%Si alloy in electric transformer application. The intensity of the recrystallization Goss component depends directly on the sharpness of the {111}<112> orientation developed during cold rolling. Thus, the origin of this {111}<112> deformation texture has been studied using viscoplastic self-consistent (VPSC) simulations. This model showed that only the {110}<111> slip systems allow to develop the {111}<112> texture. The predominance of this slip system has been effectively identified from slip markings on the deformed sample by EBSD. More, this simulation has shown that a Goss texture at the hot-rolled state favors the {111}<112> development during cold rolling, as observed experimentally.