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 1.3110. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2975. 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 31, 2019, is the area at the level of 1.3395.
GBP/USD Forecast Pound Dollar January 31, 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 bullish channel. Cancellation of growth options for the pair Pound/Dollar will fall with the closing of quotes below 1.2855. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the Pound/Dollar pair to an area below 1.2650. Expect acceleration of the pair growth with the breakdown of the resistance area and closing above level 1.3235.
GBP/USD Forecast Pound Dollar January 31, 2019 implies an attempt to test the support area near the level of 1.2975. Then the continuation of the rise with the target above level 1.3395. 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 1.2855. This will indicate a continued decline in the pair with a potential target below 1.2650.
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