Currency pair Pound/Dollar GBP/USD continues to move within the downward channel. At the time of the publication of the forecast, the pound to dollar rate is 1.2759. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2805. Where again we should expect a rebound and the continuation of the decline of the pound against the dollar. The target of the downward movement of the currency pair, in the FOREX forecast for January 11, 2019, is the area at 1.2395.
GBP/USD Forecast Pound Dollar January 11, 2019
A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the pair on Forex. Also rebound from the upper limit of the bearish channel. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2935. This will indicate a breakdown of the resistance level and the continued growth of the pair in the area above the level of 1.3055. Expect to accelerate the fall of the pair stands with the breakdown of the support area and closing below 1.2630.
GBP/USD Forecast Pound Dollar January 11, 2019 involves an attempt to test the resistance area near the level of 1.2805. Then continue to decline with the target below 1.2395. 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 1.2935. This will indicate continued growth of the pair.