Currency pair pound dollar GBP USD showed an increase of the current trading week at the beginning of working out a reversal pattern failure swing. At the moment, there is the potential to see the fall of the pound currency pair quotes the dollar to below the local minimum.
Forex GBP USD Forecast 22 August — 26 August, 2016
As you can see, the descending pattern forming 1:1, which points to a rebound from the upper border of the channel and continue the quotation GBP USD falling to 1.27. Cancellation option working out such a model would be the breakdown of the upper boundary of the channel, and the growth of quotations of the pair above the level of 1.33, which indicates the potential development of the upward correction. An additional signal in favor of the descending pattern 1:1 The test of the descending trend line on the indicator of relative strength, it also points to the drop in prices GBP USD to the local minimum.
Forex GBP USD Forecast 22 August — 26 August, 2016 suggests an attempt to fall after a hearty test the upper boundary of the channel in order to reduce the level below 1.27.
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