Currency pair Pound Dollar GBP/USD completes trading week near area 1.3077. The pair continues to move within the bullish channel. At this point, we should expect a breakdown of the lower border of the channel and the continuation of the fall of quotations in the area below the level of 1.2570.
GBP/USD weekly forecast on November 6 — 10, 2017
In favor of the decline of the British Pound is the formation of the reversal model of the «Head and Shoulders» on the indicator of relative strength index (RSI). Expect to accelerate the fall of the GBP/USD pair with a breakdown of the level of 1.2950. The cancellation of the fall of the pair will result in strong growth and breakdown of the area of 1.3420.
Among the important news from the UK, which may have an impact on the Pound/Dollar rate is worth highlighting: The change in the volume of industrial production.
GBP/USD weekly forecast on November 6 — 10, 2017 involves an attempt to fall below 1.2570, in favor of the pair’s fall is the formation of a reversal pattern on the relative strength indicator (RSI), expect a fall acceleration of the pair is worth a breakdown at 1.2950 level.
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