Currency pair British Pound to US Dollar GBP/USD continues to trade within the rising channel. However, at the moment the GBP/USD pair can also show a drop to the area below the level 1.2870. In favor of the fall is the formation of reversal forex pattern “Head and Shoulders” on the indicator of relative strength index (RSI).
GBP/USD forecast Pound Dollar on May 22, 2017
With the breakdown of area 1.29, it is expected to continue the decline with a target below the level 1.27. Canceling the option of falling the GBP/USD quotations will break through the area 1.3050, which will indicate the continued growth of the pair.
Important news from England is not expected, so the pair British Pound to US Dollar will continue to move within the technical analysis GBP/USD.
GBP/USD forecast Pound Dollar on May 22, 2017 suggests an attempt to lower the region to the lower border of the channel, the breakdown of which will indicate the continuation of the fall with a target below the level of 1.27, the cancellation will be the breakdown of the 1.3050 area.
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