Currency pair Pound Dollar GBP/USD ends the trading week near the 1.2727 area. The pair continues to move within the descending channel. Moving averages indicate a bearish trend. At this point we should expect an attempt to test growth and test the resistance area near the level of 1.2775. Further, the continuation of the decline in quotations of the Pound Dollar to the area below the level of 1.2155.
GBP/USD weekly forecast & analysis January 7 — 11, 2019
In favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the option of reducing the pair GBP/USD in the current trading week of January 7 — 11, 2019 will be a strong growth and a breakdown of the area of 1.2950. 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, which may have an impact on the pound dollar, it is worth highlighting: Change in GDP, Change in industrial output.
GBP/USD weekly forecast & analysis January 7 — 11, 2019 suggests an attempt to test the resistance level near the 1.2775 area. Where can we expect to continue the fall of the pair with a goal below 1.2155. 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 1.2950. In this case, we can expect continued growth of the pair.