Currency pair Pound/Dollar GBP/USD continues to move as part of the correction and the formation of the «Wedge» model. At the time of the publication of the forecast, the pound to dollar rate is 1.2694. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2735. 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 27, 2018, is the area at the level of 1.2455.
GBP/USD forecast Pound Dollar December 27, 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. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2780. This will indicate a breakdown of the resistance level and the continued growth of the pair in the area above the level of 1.2950. The pair is expected to accelerate the fall with the breakdown of the lower boundary of the «Wedge» model and closing below 1.2615.
GBP/USD forecast Pound Dollar December 27, 2018 suggests an attempt to test the resistance area near the level of 1.2735. Then continue to decline with the target below the level of 1.2455. 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 a breakdown of 1.2780. This will indicate continued growth of the pair.
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