Currency pair pound dollar GBP/USD is trading fully in line with expectations and our forecast GBP/USD. As you can see, the reversal pattern head and shoulders already fulfilled its purpose.
GBP USD Forecast FOREX — May 24, 2016
At the moment, there is the potential for the continuation of falling of quotations of the dollar to the pound at 1.44. Where we should expect a rebound attempt and the development of an upward movement in the framework of the test the uptrend line on the indicator of relative strength. We continue to hold a short position in the pair, however, are willing to lock in profits at the time of upward correction.
GBP USD Forecast FOREX — May 24, 2016 suggests test level 1.4400, where correction can be expected again.
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