Currency pair Pound/Dollar GBP/USD continues to move within the bearish channel. At the time of the publication of the forecast, the pound to the US Dollar is 1.3004. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3065, from which we can again expect a rebound and the continuation of the fall of the Pound against the Dollar. The target of reducing the GBP/USD currency pair, in the framework of the GBP/USD forecast Pound Dollar November 6, 2018, is the area at the level of 1.2720.
GBP/USD forecast Pound Dollar November 6, 2018
A test of a broken trend line on the relative strength index (RSI) will be in favor of the pair falling on Forex. Cancellation of the option of falling the Pound/Dollar pair will be a strong growth and the breakdown of the resistance area with the closing of quotes above 1.3120, which will indicate a breakdown of the channel boundary and the continued growth of the pair to the area above the level of 1.3260. Expect to accelerate the fall of the pair stands with the breakdown of the support area and closing below 1.2910.
GBP/USD forecast Pound Dollar November 6, 2018 suggests an attempt to test the resistance area near 1.3065 and continue falling with the target below 1.2720, an additional signal in favor of the British Pound fall is a trend line test on the relative strength index (RSI), the reduction option will be canceled strong growth and breakdown of the 1.3120 area, which will indicate continued growth of the pair.