Currency pair Pound Dollar GBP/USD completes the trading week near the area of 1.4238. The pair continues to move within the bullish channel. At this point, you should expect an attempt to test the resistance area near the level of 1.4300 and continue falling quotations in the area below the level of 1.3750.
GBP/USD weekly forecast April 16 — 20, 2018
In favor of the fall of the British Pound, a trend line test will be performed on the indicator of relative strength index (RSI). Canceling the fall of the pair will be a strong growth and breakdown of the area of 1.4550, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1.50. A confirmation of the fall of GBP/USD will be the breakdown of the support area and the closing below the level of 1.3650.
GBP/USD weekly forecast April 16 — 20, 2018 suggests a test of the resistance level near the area of 1.4300, from which it is expected to continue falling of the pair for the target below the area of 1.3750, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI), the abolition of the option of reducing the pair Pound/Dollar will be a strong growth and breakdown at 1.4550 level.