Currency pair pound dollar GBP USD finished the current trading week, a minor correction, but at the moment on the daily chart, the pair has marked a downward FX model 1:1 with a view to a potential drop below the level of 1.14. Cancellation option will increase in quotes pound strong on the next trading week and the breakdown region of the upper boundary of the descending channel at the level of 1.24, which indicates the abolition of forex model 1:1 and the beginning of growth of quotations GBP USD.
Forecast GBP USD on October 24, 2016 — October 28, 2016
An additional signal in favor of the fall is the test of the broken trend line on the indicator of relative strength, it also points to the drop in prices and a rebound in the area below the level of 1.14.
Forecast GBP USD on October 24, 2016 — October 28, 2016 suggests an attempt to fall within the beginning of the descending forex model 1:1 in order to fall below the local minimum.
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