Currency pair pound dollar GBP USD shows the development of ascending correction within the framework of the completion of the formation of topping model Forex Head and Shoulders. From current levels we can expect attempts to begin falling within the mining model in order to reduce to below 1.2450 area.
GBP USD Forex forecast and analysis on December 9, 2016
Cancellation option will be a strong growth of quotations GBP / USD above the 1.2850 level, which will point to the abolition of the model and the continued growth of quotations of the dollar the pound. Expect to accelerate reduction of quotations couple standing with a breakdown of 1.2540 area, which points to the breakdown of the neckline. Among the data that can influence the course of the pair Pound Dollar tomorrow, December 9, 2016, is to provide, Balance of visible trade, it is expected a slight decline from the level of -12.7B -11.96B to a level that can support the British pound tomorrow 09.12. 2016.
GBP USD Forex forecast and analysis on December 9, 2016 suggests an attempt to fall within the mining reversal forex head and shoulders pattern with a potential to reduce to below 1.2450 area.
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