The currency pair British Pound to US Dollar GBP/USD continues to move within the ascending channel, the pair was able to break through the 1.30 area, thereby canceling the formation of the reversal forex pattern “Head and Shoulders”. At this point, we should expect an attempt to test the area of 1.2980, where again we should expect the continued growth of the pair British Pound to US Dollar.
GBP/USD Forecast British Pound on May 19, 2017
In favor of the GBP/USD pair’s rebound, a test of a broken trend line will appear on the relative strength index (RSI) indicator. The cancellation of the growth of the currency pair British Pound to US Dollar will be the fall and breakdown of the area of 1.29, which will indicate the next attempt of the fall of the pair.
Important news from England is not expected, so the pair will continue to move in the technical analysis GBP/USD.
GBP/USD Forecast British Pound on May 19, 2017 suggests a correction attempt to the support area at 1.2980, from which one should expect a rebound and growth of the pair’s quotations to the area above the level of 1.3080, the cancellation will be the breakdown of the level 1.2900.
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