Currency pair Pound/Dollar GBP/USD continues to move within the correction and the bearish channel. At the time of the publication of the forecast, the pound to dollar rate is 1.2649. At the moment, we can expect an attempt to grow and test the resistance area near the level of 1.2750. Where again we should expect a rebound and the continuation of the decline of the pound against the dollar. The target of the bearish movement of the currency pair, in the FOREX forecast for December 20, 2018, is the area at the level of 1.2365.
GBP/USD forecast Pound Dollar December 20, 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 descending channel. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2810. 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 fall of the pair stands with the breakdown of the support area and closing below 1.2525.
Among the important news from the UK, which may have an impact on the GBP/USD pair, is the change in the volume of retail sales taking into account fuel costs, the decision on the basic interest rate of the Bank of England, the planned volume of asset purchases by the Bank of England.
GBP/USD forecast Pound Dollar December 20, 2018 involves an attempt to test the resistance area near the level of 1.2750. Then continue to decline with the goal below 1.2365. 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 1.2810. This will indicate continued growth of the pair.
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