GBP/USD forecast & technical analysis April 18, 2018


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 ​​1.4400, where again we should expect a rebound and the continuation of the fall of the British Pound against the US Dollar. The goal of the fall of the GBP/USD pair and the development of the «Wolfe Wave» model is below 1.3900.

GBP/USD forecast & technical analysis April 18, 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 decrease will be a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.4460, which will indicate the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the upper boundary of the model and the closing below the level of 1.4310.

GBP/USD forecast & technical analysis April 18, 2018

GBP/USD forecast & technical analysis April 18, 2018 involves an attempt to test the upper bound of the «Wolfe Wave» model near the 1.4400 level and the continuation of the fall with a target below 1.3900, an additional signal in favor of the fall of the British Pound will test the trend line on the relative strength index (RSI), the abolition of the decline option will be strong growth and breakdown of the area of ​​1.4460.


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