Currency pair pound dollar GBP USD continued development of the correction in the limits of formation of reversal pattern Forex Head and Shoulders. Completion of the right shoulder level should be expected near the area of 1.2570, where one can try again to sell the pair gbp usd with tight stop.
GBP USD rate forecast for the British Pound on November 17, 2016
Cancellation option will be a strong growth of quotations pair GBP/USD above the 1.2650 level, which points to a continuation of an upward trend for the pair. We continue to keep selling the pound against the dollar and are ready to increase the volume of short positions on the development of a fall. Is expected to accelerate the fall of the pair only after the breakdown of the neck line.
GBP USD rate forecast for the British Pound on November 17, 2016 suggests an attempt to test the area of 1.2570 and started falling within the mining model depraved forex head and shoulders to reduce below the level of 1.21.