Currency pair Pound/Dollar GBP/USD continues to move as part of the growth and start of the Wolfe Wave model. At the time of the publication of the forecast, the pound/dollar rate is 1.2899. At the moment, we should expect an attempt to decrease and test the support area near the level of 1.2850. 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 Forex forecast for November 23, 2018, is the area at the level of 1.3250.
GBP/USD forecast Pound Dollar November 23, 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 1.2740. This will indicate a breakdown of the support level and a continued decline in the pair to the area below 1.2600. 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 GBP/USD pair, it is worth highlighting: Speech by a member of the monetary policy committee of the Bank of England
GBP/USD forecast Pound Dollar November 23, 2018 implies an attempt to test the support area near the level of 1.2850. Then continued growth with the target above the level of 1.3250. 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 growth option will be the fall and the breakdown of 1.2740. This will indicate a continued decline in the pair.
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