Currency pair Pound Dollar GBP/USD continues to move in the framework of the decline and formation of the «Triangle» model. At this point, we should expect a test of resistance level near the area of 1.3550, where again we should expect a rebound and the continuation of the fall of the British Pound against the USDollar. The target of the fall of the GBP/USD pair is the area below the level of 1.3270.
GBP/USD forecast & technical analysis May 10, 2018
In favor of the fall of the pair on Forex will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Pound/Dollar pair will result in a strong growth and breakdown of the upper border of the channel with the closing of quotes above the level of 1.3590, which indicates the breakdown of the upper limit of the «Triangle» model and the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 1.3430.
GBP/USD forecast & technical analysis May 10, 2018 suggests a test of the resistance area near the 1.3550 level and the continuation of the fall with a target below the level of 1.3270, an additional signal in favor of the fall of the British Pound will test the resistance line on the indicator of relative index (RSI), strong growth and breakdown of the region 1.3590.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
