Currency pair Pound/Dollar GBP/USD continues to move in growth. At the time of the publication of the forecast, the pound to the US dollar is 1.3069. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3150. Where again we should expect a rebound and the continuation of the fall of the pound against the dollar. The target of the downward movement of the currency pair, in the framework of the FOREX forecast for February 26, 2019, is the area at the level of 1.2890.
GBP/USD Forecast Pound Dollar February 26, 2019
A test of the downward trend line on the relative strength index (RSI) will be in favor of reducing the pair. As well as a rebound from the upper boundary of the descending channel. Cancellation of the option to drop the pair Pound/Dollar will be a strong increase with the closing of quotations above the level of 1.3205. This will indicate a breakdown of the resistance area and continued fall in the growth of the pound/dollar pair to the area above the level of 1.3325. Expect to accelerate the fall of the pair stands with the breakdown of the support area and closing below 1.2955.
Among the important news from the UK, which may have an impact on the GBP/USD pair, it is worth highlighting: Parliamentary hearings on inflation, the speech of the head of the Bank of England.
GBP/USD Forecast Pound Dollar February 26, 2019 suggests an attempt to test the resistance area near the level of 1.3150. Then the continuation of the fall with the goal below 1.2890. 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 the 1.3205 area. This will indicate continued growth of the pair with a potential target above the level of 1.3325.