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 1.2838. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2700. 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 November 21, 2018, is the area at the level of 1.3200.
GBP/USD forecast Pound Dollar November 21, 2018
In favor of the pair growth at Forex will be a test of the trend line on the indicator of relative strength (RSI). Cancellation of the growth option of the pair Pound/Dollar will fall with the closing of quotations below 1.2620. 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.
GBP/USD forecast Pound Dollar November 21, 2018 suggests an attempt to test the support area near the level of 1.2700. Then continued growth with the target 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 (RSI). Cancellation of the growth option will be the fall and the breakdown of the 1.2620 area. This will indicate a continued decline in the pair.
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