Currency pair Pound/Dollar GBP/USD continues to move in the framework of the fall. At the time of the publication of the forecast, the pound to dollar rate is 1.2851. At the moment, we should expect an attempt to rise and test the resistance area near the level of 1.2905. Where again we should expect a rebound and the continuation of the fall of the pound against the dollar. The aim of the downward movement of the currency pair, in the framework of the Forex forecast for February 13, 2019, is the area at the level of 1.2685.
GBP/USD Forecast Pound Dollar February 13, 2019
The test of the broken trend line on the relative strength index (RSI) will be in favor of reducing the pair. As well as a rebound from the lower boundary of the bullish channel. Cancellation of the option of falling the pair Pound Dollar will be a strong increase with the closing of quotations above the level of 1.2945. This will indicate a breakdown of the lower boundary of the channel and continued growth of the Pound/Dollar pair to the area above the level of 1.3145. Expect to accelerate the fall of the pair is with the breakdown of the support area and closing below 1.2805.
Among the important news from the UK, which may have an impact on the GBP/USD pair, it is worth mentioning: Consumer price index, Parliamentary vote on Brexit.
GBP/USD Forecast Pound Dollar February 13, 2019 suggests an attempt to test the resistance area near the level of 1.2905. Then the continuation of the fall with the goal below level 1.2685. An additional signal in favor of reducing the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 1.2945 area. This will indicate a continued rise of the pair with a potential target above the level of 1.3145.