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 dollar rate is 1.2912. At the moment, we should expect an attempt to fall and test the support area near the level of 1.2825. Where again we should expect a rebound and continued growth of the pound against the dollar. The target of the bullish movement of the currency pair, in the Forex forecast for February 19, 2019, is the area at the level of 1.3135.
GBP/USD Forecast Pound Dollar February 19, 2019
In favor of raising the pair will make a test of the rising trend line on the indicator of relative strength index (RSI). As well as the formation of an inverted model of «Head and Shoulders». Cancellation of the growth option of the pair Pound/Dollar will fall with the closing of quotations below 1.2765. This will indicate a breakdown of the support area and the continuation of the fall of the Pound/Dollar pair to the area below 1.2665. Expect to accelerate the growth of the pair is with the breakdown of the resistance area and closing above 1.2965.
Among the important news from the UK, which may have an impact on the GBP/USD pair, is the change in the number of applications for unemployment benefits.
GBP/USD Forecast Pound Dollar February 19, 2019 implies an attempt to test the support area near the level of 1.2825. Then continued growth with the target above the level of 1.3135. 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 of the growth option will be the fall and the breakdown of the area 1.2765. This will indicate a continued decline in the pair with a potential target below 1.2665.