Currency pair Pound Dollar GBP/USD ends the trading week near the 1.2566 area. The pair continues to move within the descending channel. Moving averages indicate a bearish trend. At this point we can expect an attempt to test growth and the resistance area near the level of 1.2650. Further, the continuation of the decline in quotations of the Pound/Dollar to the area below the level of 1.1975.
GBP/USD weekly forecast & analysis December 17 — 21, 2018
In favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI). As well as a rebound from the upper limit of the bearish channel. Cancellation of the option to reduce the pair GBP/USD in the current trading week from December 17 — 21, 2018 will be strong growth and a breakdown of the 1.3050 area. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 1.3550. Confirmation of the fall in GBP/USD will be the breakdown of the support area and the close below 1.2450.
Among the important news from the UK that may affect the Pound/Dollar rate, it is worth highlighting: Consumer Price Index, Decision on the basic interest rate of the Bank of England, Planned volume of asset purchases by the Bank of England.
GBP/USD weekly forecast & analysis December 17 — 21, 2018 implies an attempt to test the resistance level near the 1.2650 area. Where can we expect to continue the fall of the pair with the goal below area 1.1975. An additional signal in favor of reducing the test trend line on the indicator of relative strength index (RSI). Cancellation of the fall of the pair Pound Dollar pair will be a strong growth and the breakdown level of 1.3050. In this case, we can expect continued growth of the pair.
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