Currency pair Pound/Dollar GBP/USD continues to move as part of the decline and the formation of the «Triangle» model. At the time of the publication of the forecast, the pound to dollar rate is 1.2984. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3020, from where 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 24, 2018, is the area at 1.2810.
GBP/USD forecast Pound Dollar October 24, 2018
A test of the trend line on the relative strength index (RSI), as well as a test of the lower boundary of the «Triangle» 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 1.3115, which will indicate a breakdown of the resistance level and continued growth of the pair to the area above the level of 1.3215. It is necessary to wait for confirmation of the pair’s decline with the breakdown of the support area and closing below 1.2920.
GBP/USD forecast Pound Dollar October 24, 2018 suggests an attempt to test the resistance area near 1.3020 and continue to fall with a target below 1.2810, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI).