Currency pair Pound/Dollar GBP/USD continues to move in the upward channel. At the time of publication of the forecast, the British Pound to the US Dollar is 1.3009. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2875. Where again we should expect a rebound and continued growth of the pound against the dollar. The aim of the upward movement of the currency pair, in the framework of the FOREX forecast for January 24, 2019, is the area at the level of 1.3325.
GBP/USD Forecast Pound Dollar January 24, 2019
A test of the rising 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 bullish channel. Cancellation of the option of raising the pair Pound/Dollar will fall with the closing of quotes below 1.2750. This will indicate a breakdown of the lower boundary of the channel and the continuation of the decline of the Pound/Dollar pair to the area below the level of 1.2550. Expect acceleration of the pair growth with the breakdown of the resistance area and closing above the level of 1.3045.
GBP/USD Forecast Pound Dollar January 24, 2019 implies an attempt to test the support area near the level of 1.2875. Then continued growth with the target above level 1.3325. 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 1.2750 area. This will indicate a continued decline in the pair with a potential target below 1.2550.