Currency pair Pound/Dollar GBP/USD continues to move as part of the correction and the formation of the «Wolfe Wave» model. At the time of the publication of the forecast, the pound to dollar rate is 1.2817. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2745. 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 GBP/USD forecast Pound Dollar November 20, 2018, is the area at 1.3200.
GBP/USD forecast Pound Dollar November 20, 2018
In favor of the pair growth at Forex will be a test of the trend line on the indicator of relative strength index (RSI). Cancellation of the growth option of the pair Pound/Dollar will fall with the closing of quotations below 1.2650. This will indicate a breakdown of the support level and a continuation of the pair’s decline to the area below 1.2520. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and closing above the level of 1.2950.
Among the important news from the UK, which may have an impact on the course of the pair GBP/USD, it is worth highlighting: Parliamentary hearings on inflation, the speech of the head of the Bank of England.
GBP/USD forecast Pound Dollar November 20, 2018 implies an attempt to test the support area near the level of 1.2745. Then continued growth with the goal above the level of 1.3200. An additional signal in favor of the growth of the British Pound will be a test of the trend line on the indicator of relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1.2650 area, which will indicate a continued decline in the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
