Currency pair pound dollar GBP USD continues to trade within the framework of the development of the downward trend, the pound at the moment movement structure is a triangle forex pattern. We look forward to trying to break the model down and develop quotes GBP USD falling to a potential target of falling below 1.18.
GBP USD rate forecast pounds on October 26, 2016
Cancellation option will be a strong growth of quotations of the pair above the 1.2350 level, which points to a continuation of upward correction for the pair. An additional signal in favor of selling the pound in favor of formation of topping forex head and shoulders pattern on the display relative strength, which also points in favor of fall.
GBP USD rate forecast pounds on October 26, 2016 suggests an attempt to break the lower boundary of the model triangle and the development of a pair of quotes fall into the area below the level of 1.18.
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