Currency pair Pound Dollar GBP/USD ends the trading week near the 1.2638 area. The pair continues to move within the descending channel. Moving averages indicate a downward trend. At this point, we should expect an attempt to test growth and test resistance area near the level of 1.2725. Further, the continuation of the decline in quotations of the Pound/Dollar to the area below the level of 1.2195.
GBP/USD forecast & analysis December 31 — January 4, 2019
In favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the option to reduce the pair GBP/USD in the current trading week December 31 — January 4, 2019 will be a strong growth and a breakdown of the 1.3000 area. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 1.3550. Confirmation of the fall in GBP/USD will be the breakdown of the support area and the close below 1.2450.
GBP/USD forecast & analysis December 31 — January 4, 2019 involves an attempt to test the resistance level near the 1.2725 area. Where can we expect to continue the fall of the pair with a goal below 1.2195. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the pair Pound/Dollar pair will be a strong growth and the breakdown level of 1.3000. In this case, we can expect continued growth of the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
