Currency pair Pound Dollar GBP/USD demonstrates declines and is currently testing the area of 1.3167. It is expected to rebound and the pair Pound Dollar rise above 1.3310 as part of the completion of the head and shoulders reversal pattern. In the vicinity of 1.3310, we should again expect a further decline with a potential target at 1.2890.
GBP/USD prediction & technical analysis on October 19, 2017
In favor of reducing the pair on Forex is the breakdown of the trend line on the indicator of relative strength index (RSI). The reversal of the fall of the pair will be a strong growth and breakdown at 1.3345, indicating that the pair continues to grow above 1.35. Expect to accelerate the fall of the GBP/USD pair with a breakdown of 1.3120.
GBP/USD prediction & technical analysis on October 19, 2017 suggests an attempt to increase to the area above the level of 1.3310 within the formation of the «Head and Shoulders» reversal pattern, from which it is expected to continue falling, an additional signal is the breakdown of the support line on the relative strength indicator (RSI), will breakdown at the level of 1.3345.
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