Currency pair Pound/Dollar GBP/USD continues to move within the correction. At the time of the publication of the forecast, the British Pound to the US Dollar is 1.2697. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2735. 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 framework of the FOREX forecast for January 2, 2019, is the area at the level of 1.2425.
GBP/USD forecast Pound Dollar January 2, 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. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2790. This will indicate a breakdown of the resistance level and the continued growth of the pair in the area above the level of 1.2950. Expect to accelerate the fall of the pair is with the breakdown of the support area and closing below 1.2615.
GBP/USD forecast Pound Dollar January 2, 2019 involves an attempt to test the resistance area near the level of 1.2735. Then continue to decline with the target below the level of 1.2425. 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 area 1.2790. This will indicate continued growth of the pair.