Currency pair Pound Dollar GBP/USD ends the trading week near the area of 1.3010. The pair continues to move within the bearish channel. Moving averages indicate a bearish trend. At this point we should expect an attempt to grow and test the resistance area near the level of 1.3185. Further, the continuation of the decline in quotations of the Pound/Dollar to the area below the level of 1.2435.
GBP/USD Forecast and Analysis February 25 — March 1, 2019
In favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the option of reducing the pair GBP/USD in the current trading week on February 25 — March 1, 2019 will be a strong growth and a breakdown of the area of 1.3285. 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 of GBP/USD will be a breakdown of the lower boundary of the «Triangle» model and the closure below 1.2655.
Among the important news from the UK, which may have an impact on the Pound Dollar rate, it is worth highlighting: Parliamentary vote on Brexit.
GBP/USD Forecast and Analysis February 25 — March 1, 2019 involves an attempt to test the resistance level near the area of 1.3185. Where can we expect to continue the fall of the pair with the goal below the area of 1.2435. 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 1.3285. In this case, we should expect the pair to continue to grow with a potential target above the level of 1.3550.