Currency pair Pound Dollar GBP/USD completes trading week near area 1.3551. The pair continues to move within the limits of the decline. At this point, we should expect an attempt to test the resistance area near the level of 1.3700 and continue falling quotations in the area below the level of 1.2850.
GBP/USD weekly forecast May 7 — 11, 2018
In favor of the fall of the British Pound, a trend line test will be performed on the relative strength index (RSI), as well as the completion of the formation of the reversal model «Double Top». Canceling the fall of the pair will be a strong growth and breakdown of the area of 1.4150, which indicates the breakdown of the resistance area and the continuation of growth in the area above the level of 1.45. A confirmation of the fall of GBP/USD will be the breakdown of the support area and the closing below the level of 1.3550.
GBP/USD weekly forecast May 7 — 11, 2018 suggests a test of the resistance level near the 1.3700 area, from where it is expected to continue falling of the pair with a target below the area of 1.2850, an additional signal in favor of the fall will be a trend line test on the indicator of relative strength index (RSI), the abolition of the option of reducing the pair Pound/Dollar will be strong growth and breakdown at the level of 1.4150.
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