Currency pair Pound/Dollar GBP/USD continues to move as part of the correction and the formation of the bullish model «5-0». At the time of publication of the forecast, the pound to the US dollar is 1.3135. At the moment, we should expect an attempt to fall and test the support area near the level 1.3120. 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 March 7, 2019, is the area at the level of 1.3385.
GBP/USD Forecast Pound Dollar March 7, 2019
In favor of the growth of the pair will test the rising trend line on the indicator of relative strength index (RSI). 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 quotations below 1.3045. This will indicate a breakdown of the support area and the continuation of the fall of the Pound/Dollar pair to the area below 1.2855. Expect confirmation of the growth of the pair is with the breakdown of the upper boundary of the bearish channel and closure above 1.3225.
GBP/USD Forecast Pound Dollar March 7, 2019 suggests an attempt to test the support area near the level of 1.3120. Then continued growth with the target above the level of 1.3385. An additional signal in favor of raising the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the 1.3045 area. This will indicate a continued decline in the pair with a potential target below 1.2855.
