Currency pair Pound Dollar GBP/USD continues to move in the fall and working off of the bearish model «Wolfe Wave». At this point, we should expect a test of resistance level near the area of 1.4140, where again we should expect a rebound and the continuation of the fall of the Pound against the Dollar. The target 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 20, 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 1.4170, which will indicate the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the lower boundary of the bullish channel and the closing below the level of 1.4040.
GBP/USD forecast & technical analysis April 20, 2018 suggests a test of the resistance area near the level of 1.4140 and the continuation of the fall with a target below the level of 1.3900, an additional signal in favor of the fall of the British Pound will test the trend line on the indicator of relative strength index (RSI).
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