Currency pair pound dollar GBP USD continues moving inside the descending channel, which indicates a continued decline. At the moment quotes are testing the upper limit of dense downward channel, and has a high probability of a drop in prices the pound against the dollar to below 1.18. Cancellation option will be a breakdown of the upper boundary of the channel, and the growth of quotations GBP/USD above the 1.2450 level.
GBP USD Forecast pounds on 20 October 2016
An additional signal in favor of the fall is the test of the descending trend line on the indicator of relative strength.
GBP USD Forecast pounds on 20 October 2016 suggests an attempt to continue falling in the rebound from the upper border of the channel, and the development of the downward trend with a view to below 1.18.
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