Currency pair Pound/Dollar GBP/USD continues to move within the correction. At the time of the publication of the forecast, the pound to the US Dollar is 1.3098. At the moment, we should expect an attempt to correct and test the support area near the level of 1.2915. Where again we should expect a rebound and continued growth of the pound against the dollar. The target of the GBP/USD currency pair growth, in the GBP/USD forecast Pound Dollar November 9, 2018, is the area at the level of 1.3145.
GBP/USD forecast Pound Dollar November 9, 2018
In favor of the pair growth at Forex will be a test of the rising trend line on the indicator of relative strength index (RSI). As well as the formation of the «Head and Shoulders» reversal pattern. Cancellation of growth options for the pair Pound/Dollar will be a fall and a breakdown of the support area with the closing of quotes below 1.2820. This will indicate a breakdown of the support area and the continuation of the pair falling into the area below the level of 1.2550. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and closing above the level of 1.3195.
Among the important news from the UK, which may have an impact on the GBP/USD pair, is the change in the volume of GDP, the change in the volume of industrial production.
GBP/USD forecast Pound Dollar November 9, 2018 implies an attempt to test the support area near the level of 1.2915. Further, the growth continued with the target above the level of 1.3145. 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 the growth option will be the fall and the breakdown of the area of 1.2820, which will indicate a continued decline in the pair.