GBP/USD Forecast and Analysis February 4 — 8, 2019


Currency pair Pound Dollar GBP/USD completes the trading week near the 1.3069 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 grow and test the resistance area near the level of 1.3135. Further, the continuation of the decline in quotations of the Pound/Dollar to the area below the level of 1.2465.

GBP/USD Forecast and Analysis February 4 — 8, 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 of February 4 — 8, 2019 will be a strong growth and a breakdown of the area of ​​1.3265. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 1.3650. Confirmation of the fall in GBP/USD will be the breakdown of the support area and the close below 1.2880.

GBP/USD Forecast and Analysis February 4 — 8, 2019

Among the important news from the UK, which may have an impact on the pound dollar rate, it is worth highlighting: The decision on the basic interest rate of the Bank of England, a summary of monetary policy.

GBP/USD Forecast and Analysis February 4 — 8, 2019 involves an attempt to test the resistance level near the 1.3135 area. Where can we expect to continue the fall of the pair with the target below the area of ​​1.2465. 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 PoundDollar pair will be a strong growth and the breakdown level of 1.3265. In this case, we should expect the pair to continue to grow with a potential target above the level of 1.3550.


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