Currency pair Pound/Dollar GBP/USD continues to move as part of a decline. At the time of publication of the forecast, the British Pound to the US Dollar is 1.3105. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3135, 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 framework of the GBP/USD forecast Pound Dollar October 19, 2018, is the area at the level of 1.2970.
GBP/USD forecast Pound Dollar October 19, 2018
In favor of reducing the pair at Forex, a trend line test on the relative strength index (RSI) will come out. 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 1.3205, which will indicate a breakdown of the resistance level and continued growth of the pair to the area above the level of 1.3300. Expect confirmation of a decline in the pair stands with the breakdown of the support area and closing below 1.3055.
Among the important news from the UK, which may have an impact on the GBP/USD pair, it is worth highlighting: Speech by the head of the Bank of England.
GBP/USD forecast Pound Dollar October 19, 2018 suggests an attempt to test the resistance area near the level of 1.3135 and continue to fall with a target below 1.2970. strong growth and breakdown of 1.3205 area, which will indicate continued growth of the pair.