Currency pair Pound Dollar GBP/USD closes the trading week near the area of 1.3590. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the resistance level near the 1.3700 area and the beginning of the fall of quotations in the area below the level of 1.3060.
GBP/USD weekly forecast on January 15 — 19, 2018
In favor of the decline of the British Pound, a resistance line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the «Wedge» model. Expect the acceleration of the fall of the GBP/USD pair is with the breakdown of the lower boundary of the «Wedge» model and the closing below the level of 1.3350. The abolition of the fall of the pair will be strong growth and breakdown of the 1.3850 area, which will indicate the continued growth of the pair.
GBP/USD weekly forecast on January 15 — 19, 2018 suggests a test of the resistance level near 1.3700, where we can expect the pair to begin to fall, an additional signal in favor of the drop will be a trend line test on the relative strength index (RSI), the cancellation of the fall variant of the Pound/Dollar pair will break through area of 1.3850.