Currency pair Pound/Dollar GBP/USD continues to move in the framework of the fall and the downward channel. At the time of the publication of the forecast, the pound to the US dollar is 1.2706. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2755. Where again we should expect a rebound and the continuation of the fall of the pound against the dollar. The aim of the downward movement of the currency pair, in the FOREX forecast for May 28, 2019, is the area at the level of 1.2485.
GBP/USD Forecast Pound Dollar May 28, 2019
In favor of the fall of the currency pair will test the downward trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option of falling of the pair Pound/Dollar will be a strong growth with the closing of quotations above 1.2815. This will indicate a breakdown of the resistance level and continued growth of the Pound/Dollar pair in the area above the level of 1.3055. Expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 1.2575.
GBP/USD Forecast Pound Dollar May 28, 2019 involves an attempt to test the resistance area near the level of 1.2755. Then the continuation of the fall with the goal below the level of 1.2485. 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 1.2815. This will indicate continued growth of the pair with a potential target above level 1.3055.
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