Currency pair pound dollar GBP USD continues to move in the mining reversal forex head and shoulders pattern, which indicates the continued decline and test 1.2250 areas within the mining model. Cancellation option will be a strong growth of quotations of the pound against the dollar in the area above the local maximum level that indicates the continuation of an upward trend.
GBP USD Forecast Pound Sterling Forex December 1, 2016
Acceleration fall GBP USD is expected to breakdown level of 1.2380, which confirms the completion of the formation of topping model. We try to sell the pair and are ready to increase the amount as of the fall. Among the important news that could influence stands out, the PMI index for the manufacturing for November, is expected to increase with the index level of 54.3 to 54.4 levels that can support the British currency at the exchange rate of the European currency against the US dollar tomorrow, December 1, 2016.
GBP USD Forecast Pound Sterling Forex December 1, 2016 suggests an attempt to fall within the mining reversal forex model head and shoulders in order to reduce the area of 1.2250.