The currency pair British Pound to US Dollar GBP/USD continues to move near the area of 1.2990. At the moment, the pair is repelled from the upper boundary of the descending Wolfe wave model. It is worth waiting for an attempt to continue lowering the British Pound to US Dollar GBP/USD quotations to fall at 1.28.
GBP/USD forecast British Pound on May 23, 2017
In favor of the fall of the pair GBP/USD, there is a rebound from the bearish trend line on the indicator of relative strength index (RSI). Expect the acceleration of the fall of the pair is with the breakdown of the upward trend line on the indicator of relative strength. The cancellation of the GBP/USD fall will be strong growth and surf of the 1.3050 area, which will indicate the continued growth of the pair.
Among the important news from Britain, which can have an impact on the British Pound to US Dollar, it is worth mentioning: Public Sector Net Borrowing
GBP/USD forecast British Pound on May 23, 2017 suggests an attempt to continue the decline of the pair with the first target at the level 1.2870, in favor of the fall, the breakdown of the bullish support line at the relative strength index (RSI) indicator will come, the breakdown of the region 1.3050 will be a cancellation.
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