Currency pair Pound Dollar GBP/USD continues to move within the limits of growth. At this point, we should expect a test of resistance level near the area of 1.4290, where again we should expect a rebound and the continuation of the fall of the Pound against the US Dollar. The target of reducing the GBP/USD pair is the area below the level of 1.3945.
GBP/USD forecast & technical analysis April 10, 2018
In favor of the fall of the pair on Forex will test the trend line on the indicator of relative strength, as well as the formation of the descending model of «Wolf Wave». Abolition of the variant of the Pound/Dollar decrease will be a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.4400, which will indicate the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below the level of 1.4000.
GBP/USD forecast & technical analysis April 10, 2018 suggests an attempt to test the upper bound of the «Wolfe Wave» model near the level of 1.4290 and the continuation of the fall with a target below 1.3945, an additional signal in favor of the British Pound fall will be a trend line test on the relative strength index (RSI), the cancellation of the reduction option will be a strong growth and breakdown of the area of 1.4400.
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