GBP/USD weekly forecast on on December 4 — 8, 2017


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Currency pair Pound Dollar GBP/USD completes trading week near area 1.3497. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the level of 1.3550 and continue falling quotations in the support area near the level of 1.2820.

GBP/USD weekly forecast on on December 4 — 8, 2017

In favor of the decline of the British Pound is the test of the resistance area on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». Expect to accelerate the fall of the pair GBP/USD stands with the breakdown of the bottom of the rising channel and the closing below the level of 1.2950. The abolition of the fall of the pair will be strong growth and breakdown of the area 1.3650.

GBP/USD weekly forecast on on December 4 — 8, 2017

GBP/USD weekly forecast on on December 4 — 8, 2017 suggests a test of the level of 1.3550, where we can expect the pair to continue to decline as part of the start of the development of the «Head and Shoulders» reversal model, in favor of the drop, the resistance area test will be performed on the relative strength index (RSI), acceleration of the fall of the pair is worth a breakdown of the level of 1.2950.

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