GBP/USD Forecast Pound Dollar January 29, 2019


Currency pair Pound/Dollar GBP/USD continues to move in the ascending channel. At the time of the publication of the forecast, the pound to dollar rate is 1.3175. At the moment, we should expect an attempt to fall and test the area of ​​support near the level of 1.2955. 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 29, 2019, is the area at the level of 1.3365.

GBP/USD Forecast Pound Dollar January 29, 2019

A test of the support line on the relative strength index (RSI) will be in favor of the rise of 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 1.2825. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall 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 closure above 1.3265.

GBP/USD Forecast Pound Dollar January 29, 2019

Among the important news from the UK, which may have an impact on the GBP/USD pair, it is worth highlighting: Parliamentary vote on Brexit.

GBP/USD Forecast Pound Dollar January 29, 2019 implies an attempt to test the support area near the level of 1.2955. Then the continuation of the rise with the goal above level 1.3365. 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 of growth options will fall and the breakdown of 1.2825. This will indicate a continued decline of the pair with a potential target below 1.2550.


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