Currency pair pound dollar GBP USD is trading within the downward trend. At the moment, the pair quotes tight testing the upper limit of Descending Triangle chart pattern, the breakdown of which is down will accelerate the development of the pair fall. Cancellation option can become a strong growth of quotations of the pound against the dollar above the level of 1.2270, which indicates a potential continuation of upward correction.
GBP USD Forecast pounds on November 1, 2016
An additional signal in favor of formation of topping forex head and shoulders pattern on the display relative strength, which also points in favor of the pound falling quotations.
GBP USD Forecast pounds on November 1, 2016 assumes fall in an attempt to start mining within forex Descending Triangle chart pattern.