The currency pair Pound Dollar GBPUSD on the current trading week, showing a correction, as we expected last week forecast the pound. At the moment, there is potential for a rebound up under the test of the rising support line on the indicator of relative strength that already involves an attempt GBPUSD growth. In the last forecast, we also noted the option to test the breached neckline of an inverted head and shoulders pattern and the start of her working out, this model is still in force and in the case of a deep fall of the pound, the potential for a rebound up to continue.
GBP USD Forecast for the week 05.16.2016 — 05.20.2016
The immediate goal of the rebound quotes Pound Dollar is the area above the 1.4650 level.Thus, GBP USD Forecast for the week 05.16.2016 — 05.20.2016 suggests an attempt to test the area of the neckline is broken, and the beginning of the upward movement in the region at the level of 1.4650, the cancellation option will break through the level 1.4150, which will lead to a potential test lows for GBP/USD.