Currency pair Pound/Dollar GBP/USD continues to move in line with the decline. At the time of the publication of the forecast, the pound to the US Dollar is 1.2583. At the moment, we can expect an attempt to grow and test the resistance area near the level of 1.2715. Where again we should expect a rebound and the continuation of the decline of the pound against the dollar. The target of the downward movement of the currency pair, in the Forex forecast for December 18, 2018, is the area at the level of 1.2335.
GBP/USD forecast Pound Dollar December 18, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the pair on Forex. As well as a rebound from the upper limit of the bearish channel. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2790. This will indicate a breakdown of the resistance level and the continued growth of the pair in the area above the level of 1.3050. Expect to accelerate the decline of the pair stands with the breakdown of the support area and closing below 1.2465.
GBP/USD forecast Pound Dollar December 18, 2018 implies an attempt to test the resistance area near the level of 1.2725. Then the continuation of the decline with the goal below 1.2295. An additional signal in favor of the fall of the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of 1.2790. This will indicate continued growth of the pair.
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Your analysis are very helpful. Keep up the good work. Well done!