Currency pair Pound/Dollar GBP/USD continues to move in the ascending channel. At the time of publication of the forecast, the pound to dollar rate is 1.3070. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2995. Where again we should expect a rebound and continued growth of the pound against the dollar. The purpose of the upward movement of the currency pair, in the framework of the FOREX forecast for February 5, 2019, is the area at the level of 1.3375.
GBP/USD Forecast Pound Dollar February 5, 2019
A test of the trend line on the relative strength index (RSI) will be in favor of raising the pair. As well as a rebound from the lower boundary of the rising channel. Cancellation of growth options for the pair Pound/Dollar will fall with the closing of quotes below 1.2865. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the Pound/Dollar pair to an area below 1.2650. Expect to accelerate the growth of the pair stands with the breakdown of the resistance area and closing above the level of 1.3225.
GBP/USD Forecast Pound Dollar February 5, 2019 suggests an attempt to test the support area near the level of 1.2995. Then the continuation of the rise with the goal above level 1.3375. 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 1.2865. This will indicate a continued decline in the pair with a potential target below 1.2650.