Currency pair Pound/Dollar GBP/USD continues to move as part of the reversal pattern formation. At the time of the publication of the forecast, the pound to the US dollar is 1.3058. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3125, from which we should again expect a rebound and the continuation of the decline of the Pound against the US Dollar. The target of the fall of the GBP/USD currency pair, in the GBP/USD forecast Pound Dollar October 10, 2018, is the area at the level of 1.2705.
GBP/USD forecast Pound Dollar October 10, 2018
A test of the trend line on the relative strength strength index (RSI), as well as the formation of the «Head and Shoulders» reversal pattern, will be in favor of reducing the pair at 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 the level of 1.3200, which will indicate a breakdown of the resistance level and the continued growth of the pair to the area above the level of 1.3290. Expect confirmation of a decline in the pair is with the breakdown of the support area and closing below 1.2895.
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 October 10, 2018 suggests an attempt to test the resistance area near the level of 1.3125 and continue to fall with the target below the level of 1.2705. strong growth and breakdown of the 1.3200 area, which will indicate continued growth of the pair.