Currency pair Pound Dollar GBP/USD ends the trading week near the 1.3028 area. The pair continues to move within the «Triangle» model. At this point we can expect an attempt to test the resistance area near the level of 1.3100. Further, the continuation of the decline in quotations of the pound dollar to the area below the level of 1.2485.
GBP/USD weekly forecast & analysis October 22 — 26, 2018
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 falling GBP/USD pair on the current trading week of October 22 — 26, 2018 will be a strong growth and a breakdown of the area of 1.3310, which will indicate a breakdown of the upper limit of the «Triangle» model and continued growth in the area above the level of 1.3750. Confirmation of a decline in GBP/USD will be a breakdown of the lower boundary of the «Triangle» model and a close below 1.2860.
GBP/USD weekly forecast & analysis October 22 — 26, 2018 suggests an attempt to test the resistance level near 1.3100 area, from which we can expect the pair to continue to fall below 1.2485, the additional test signal for the trend line on the relative strength index (RSI) cancellation of the fall option of the pair Pound/Dollar will be a strong growth and the breakdown level of 1.3310, in this case, we should expect the pair to continue to grow.