The currency pair British Pound to US Dollar GBP/USD continues to move within the lateral trend. At the moment, the values of the relative strength indicator have broken through the support, which indicates a potential continuation of the pair’s decline with the target at the level below the 1.28 area.
GBP/USD forecast British Pound on May 25, 2017
With the breakdown of this area, we should expect the pound to continue to decline against the US dollar. The abolition of the decline option will be the breakdown of the local maximum area, which will indicate the continued growth of GBP/USD.
Among the important news from Britain that can influence the pound’s rate against the dollar, it is worth highlighting: Gross Domestic Product, Business Investment, BBA Mortgage Approvals.
GBP/USD forecast British Pound on May 25, 2017 assumes an attempt to fall below 1.28 as part of continuing the development of the reversal pattern on the relative strength indicator (RSI), the breakdown of the local maximum region will be a cancellation, in this case it is expected to accelerate the pair’s growth.
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