Currency pair Pound/Dollar GBP/USD continues to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the pound to dollar rate is 1.2817. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2735. Where once again we should expect a rebound and the continuation of the company of the Pound against the Dollar. The target of the upward movement of the currency pair, in the FOREX forecast for December 5, 2018, is the area at the level of 1.2995.
GBP/USD forecast Pound Dollar December 5, 2018
In favor of the pair growth at Forex will be a test of the trend line on the relative strength index (RSI). As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the growth option of the pair Pound/Dollar will fall with the closing of quotations below 1.2650. This will indicate a breakdown of the support level and the continuation of the pair falling into the area below the level of 1.2450. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and closing above the level of 1.2885.
Among the important news from the UK, which may have an impact on the GBP/USD pair, is the PMI index for the services sector.
GBP/USD forecast Pound Dollar December 5, 2018 implies an attempt to test the support area near the level of 1.2735. Then continued growth with the target above the level of 1.2995. An additional signal in favor of the growth of the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation option lifting will decrease and the breakdown of 1.2650 area. This will indicate a continuation of the fall of the pair.
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