Currency pair Pound/Dollar GBP/USD continues to move within the correction and the bearish channel. At the time of the publication of the forecast, the pound/dollar rate is 1.2843. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2860. Where again we should expect a rebound and the continuation of the fall of the pound against the dollar. The target of the downward movement of the currency pair, in the framework of the FOREX forecast for November 27, 2018, is the area at the level of 1.2575.
GBP/USD forecast Pound Dollar November 27, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the pair falling on Forex. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2950. This will indicate a breakdown of the resistance level and continued growth of the pair in the area above the level of 1.3140. It is necessary to wait for confirmation of the pair’s fall with the breakdown of the lower boundary of the «Triangle» model and closing below the level of 1.2750.
GBP/USD forecast Pound Dollar November 27, 2018 suggests an attempt to test the support area near the level of 1.2860. Then the continuation of the fall with the goal below 1.2575. 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 the 1.2950 area. This will indicate continued growth of the pair.
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