Currency pair Pound/Dollar GBP/USD continues to move in an upward correction. At the time of the publication of the forecast, the pound/dollar rate is 1.2794. At the moment, we should expect an attempt to grow and test the resistance area near the 1.2850 level. 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 framework of the Forex forecast for November 29, 2018, is the area at the level of 1.2565.
GBP/USD forecast Pound Dollar November 29, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the pair falling on Forex. As well as a rebound from the upper boundary of the descending channel. Cancellation of the option to reduce the pair Pound/Dollar will be a strong increase with the closing of quotations above 1.2920. This will indicate a breakdown of the resistance level and the continued growth of the pair in the area above the level of 1.3050. Expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 1.2695.
GBP/USD forecast Pound Dollar November 29, 2018 suggests an attempt to test the support area near the level of 1.2850. Then the continuation of the fall with the goal below 1.2565. 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 1.2920 area. This will indicate continued growth of the pair.
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