Currency pair pound dollar GBP USD continues to trade within the forex descending triangle pattern with the breakdown of the lower limit, which is expected to accelerate the fall of the pound against the dollar quotes in the area below the level of 1.18.
Forecast FOREX Pound Sterling GBP USD on October 31, 2016
Cancellation option will be a strong growth of GBP/USD pair above the level of 1.23, which indicates the continuation of upward correction. Further development could trigger a fall update local minimum area at a level below 1.14.
Forecast FOREX Pound Sterling GBP USD on October 31, 2016 suggests an attempt to break the boundaries of forex descending triangle pattern and the continuation of decrease with the immediate goal at a level below the area of 1.18, the cancellation will be upgrade the area of a local maximum.
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