Currency pair Pound Dollar GBP/USD completes trading week near area 1.3132. The pair continues to move in a bearish trend. At this point, we should expect an attempt to develop a correction and support area test near the level of 1.2950. Further, the continuation of the growth of quotes Pound Dollar in the area above the level of 1.3320.
GBP/USD weekly forecast & analysis September 17 — 21, 2018
In favor of the growth of the British Pound will perform a test of a broken trend line on the indicator of relative strength index (RSI). The cancellation of the GBP/USD growth option for the current trading week on September 17 — 21, 2018 will be the fall and breakdown of the 1.2675 area, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1.2350. A confirmation of the GBP/USD growth will be the breakdown of the upper boundary of the bearish channel and the closing above the level of 1.3360.
Among the important news from the UK, which can influence the rate of the Pound/Dollar, it is worth highlighting: the Consumer Price Index, the change in the volume of retail trade taking into account the cost of fuel.
GBP/USD weekly forecast & analysis September 17 — 21, 2018 suggests a test of the support level near the area of 1.2950, where we can expect the pair to continue growing above the 1.3320 area, an additional signal in favor of growth will be a trend line test on the relative strength index (RSI), the cancellation of the growth variant of the Pound/Dollar pair will be a drop and breakdown at the level of 1.2675, in which case it is necessary to expect the pair to continue falling.
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