Currency pair Pound/Dollar GBP/USD continues to move as part of growth. At the time of the publication of the forecast, the pound to dollar rate is 1.3215. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3265, from which we should again expect a rebound and the continued decline of the Pound against the Dollar. The target of the fall of the GBP/USD currency pair, in the GBP/USD forecast Pound Dollar October 17, 2018, is the area at 1.3050.
GBP/USD forecast Pound Dollar October 17, 2018
A test of the trend line on the relative strength index (RSI), as well as the formation of the «Wolfe Wave» model, 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 1.3310, which will indicate a breakdown of the resistance level and the continued growth of the pair to the area above the level of 1.3390. Waiting for confirmation of the pair’s decline is with the breakdown of the trend line and closing below the level of 1.3145.
Among the important news from the UK, which may affect the rate of the pair GBP/USD, it is worth highlighting: Consumer price index.
GBP/USD forecast Pound Dollar October 17, 2018 suggests an attempt to test the resistance area near 1.3265 and continue to fall with a target below 1.3050, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI), canceling the fall option strong growth and breakdown of 1.3310, which will indicate continued growth of the pair.