Currency pair pound dollar GBP USD continued to fall and was not able to start practicing forex inverted head and shoulders pattern. At the moment, there is the potential for the continuation of falling of quotations pound against the US dollar to below 1.26.
Forex GBP USD Forecast 8 August — 12 August, 2016
Cancellation option continuation of falling of pair GBP USD will be strong growth and penetration level of 1.33, which will lead to the exit of quotations for the descending channel and continuing the development of upward correction. However, while quotations and GBP USD is trading within a descending pattern 5-0 is expected to continue falling. Additional forex signal in favor of the continuation of falling of quotations GBP USD testing the descending trend line on the indicator of relative strength.
Forex GBP USD Forecast 8 August — 12 August, 2016 assumes the continuation of the fall of the pound against the dollar in the framework of the completion of a downward FX models 5-0.
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