Currency pair Pound/Dollar GBP/USD continues to move in the upward channel. At the time of the publication of the forecast, the pound to dollar rate is 1.2838. At the moment, we should expect an attempt to drop and test the support area near the level of 1.2735. Where again we should expect a rebound and continued growth of the pound against the dollar. The target of the upward movement of the currency pair, in the framework of the FOREX forecast for January 15, 2019, is the area at the level of 1.2980.
GBP/USD Forecast Pound Dollar January 15, 2019
In favor of the growth of the pair on Forex will test the rising trend line on the indicator of relative strength index (RSI). Also rebound from the lower border of the ascending channel. Cancellation of growth options for the pair Pound/Dollar will fall with the closing of quotations below 1.2695. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair into the area below the level of 1.2500. The pair is expected to accelerate growth with the breakdown of the upper boundary of the channel and closing above the level of 1.2900.
Among the important news from the UK, which may have an impact on the course of the pair GBP/USD, it is worth highlighting: Parliamentary vote on Brexit.
GBP/USD Forecast Pound Dollar January 15, 2019 suggests an attempt to test the support area near the level of 1.2735. Then continued growth with the target above the level of 1.2980. An additional signal in favor of raising 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 1.2695. This will indicate a continued decline in the pair.