Currency pair pound dollar GBP USD continues moving inside the descending pattern forex Wolfe waves with a potential target of the fall and working out at a level below 1.22 area. Currently quotes pushed from the support level, but the potential for a fall persists.
GBP USD Forecast Pound Dollar Forex on February 1, 2017
We should expect the return of relative strength indicator values to a broken trend line and continue falling to the purpose of completing the Wolfe wave model. Cancellation option reduce quotes pound against the dollar will be strong growth of quotations above the level of 1.2740.
Among the important news from the UK, which may have an impact on the pound against the dollar, we should mention, the PMI index for the manufacturing sector.
GBP USD Forecast Pound Dollar Forex on February 1, 2017 suggests an attempt to continue growing in the area above the level of 1.25 and a continued decline in the area below the level of 1.22, the cancellation option will update the maximum area.
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