Currency pair Pound Dollar GBP/USD continues to move within the limits of growth. At this point, we should expect an attempt to test the upper boundary of the bearish model «Wolfe Wave» near the area of 1.4340, where again we should expect a rebound and the continuation of the fall of the Pound against the US Dollar. The aim of the fall of the GBP/USD pair and the development of the model is the area below the level of 1.3940.
GBP/USD forecast & technical analysis April 17, 2018
In favor of the fall of the pair on Forex will test the trend line on the indicator of relative strength index (RSI). The abolition of the variant of the Pound/Dollar decline will be a strong growth and breakdown of the resistance area with the closing of quotations above the level of 1.4390, 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 the closing below the level of 1.4100.
GBP/USD forecast & technical analysis April 17, 2018 involves an attempt to test the upper limit of the bearish model «Wolfe Wave» near the level of 1.4340 and the continuation of the fall with a target below 1.3940, an additional signal in favor of the fall of the British Pound is the trend line test on the relative strength index (RSI), the abolition of the reduction option will be strong growth and breakdown of the area of 1.4390.
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