Currency pair Pound/Dollar GBP/USD continues to move within the downward channel. At the time of the publication of the forecast, the pound/dollar rate is 1.2871. At the moment, we should expect an attempt to drop and test the area of support near the level of 1.2735. 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 January 22, 2019, is the area at the level of 1.3135.
GBP/USD Forecast Pound Dollar January 22, 2019
A test of the rising trend line on the relative strength indicator 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 the level of 1.2655. This will indicate the breakdown of the lower boundary of the channel and the continuation of the fall of the Pound/Dollar pair to the area below 1.2465. Expect acceleration of the pair growth with the breakdown of the resistance area and closing above the level of 1.3010.
GBP/USD Forecast Pound Dollar January 22, 2019 implies an attempt to test the support area near the level of 1.2735. Then continued growth with the target above the level of 1.3135. 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 option lift will fall and the breakdown of the area 1.2655. This will indicate the continuation of the fall of the pair with a potential target below the level of 1.2465.
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