Currency pair Pound/Dollar GBP/USD continues to move in the upward channel. At the time of publication of the forecast, the pound to dollar rate is 1.3044. At the moment, we should expect an attempt to grow and test the area of resistance near the level of 1.3095. 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 25, 2019, is the area at the level of 1.2865.
GBP/USD Forecast Pound Dollar January 25, 2019
The test of the resistance line on the relative strength index (RSI) will be in favor of the pair falling. As well as a rebound from the upper boundary of the bullish channel. Cancellation of the option to drop the pair Pound/Dollar will be a strong increase with the closing of quotations above the level of 1.3165. This will indicate a breakdown of resistance and continued growth of the Pound/Dollar pair to the area above the level of 1.3305. It is necessary to wait for the acceleration of the fall of the pair with the breakdown of the lower boundary of the ascending channel and closing below the level of 1.2775.
GBP/USD Forecast Pound Dollar January 25, 2019 implies an attempt to test the resistance area near the level of 1.3095. Then the continuation of the fall with the target below 1.2865. An additional signal in favor of reducing the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of 1.3165. This will indicate a continued rise of the pair with a potential target above the level of 1.3305.
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