Currency pair pound dollar GBP USD continues to move through the formation of the descending wave pattern Wolfe forex with a potential target of the fall an below 1.22 area. Quotes tight testing the upper limit of the model and Cancellation option will increase in quotes pound strong dollar above the level of 1.2655, which points to continued growth in the region above the level of 1.2850.
GBP USD Forecast Pound Dollar on January 26, 2017
Acceleration of falling quotations GBP/USD is expected to breakdown of the uptrend line on the indicator of relative strength. Once again, we try to sell the pair with the tight stop and a breakdown of 1.2450 area willing to try to increase sales.
Among the important news from the UK, which may have an impact on the pound stands out, Change of GDP, and mortgage lending.
GBP USD Forecast Pound Dollar on January 26, 2017 suggests an attempt to rebound and start falling within the descending forex model Wolfe waves with a potential target of the fall to a level below 1.22 area.
