The currency pair Pound to US Dollar GBP/USD demonstrates the development of an upward correction and at the moment there is a potential for falling quotations in the area below the level of 1.2270. In favor of falling quotes, the Pound Dollar pair will make a dense test of the downward resistance line on the indicator of relative strength. Cancellation of the variant of falling of quotations of pound to dollar becomes strong growth and breakdown of the region of local maximum. Expect the acceleration of the fall of GBP/USD with a breakdown of the area of 1.2840.
GBP/USD Forecast Pound to US Dollar on May 5, 2017
Important news from Britain is not expected, so the pair Pound Dollar will continue to move in the technical analysis of GBP/USD.
GBP/USD Forecast Pound to US Dollar on May 5, 2017 suggests an attempt of the test of the area of 1.2920, where it is expected to fall to the area below the level of 1.2770 within the rebound from the downward trend line on the relative strength indicator, the breakdown of the local maximum region will be a cancellation.
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