The currency pair British Pound to US Dollar GBP/USD continues to move as part of the development of the forex model of the bearish Wolfe wave. The target for working out the model is the area at the level of 1.2770. At this point, we should expect an attempt to correct the quotations of the pair above the level of 1.3030.
GBP/USD forecast & technical analysis on July 21, 2017
In favor of growth, a trend line test appears on the indicator of relative strength. The abolition of the fall option will be a strong growth and breakdown at 1.3150, which will indicate the continued growth of the pair GBP/USD.
Among the important news from Britain, which can have an impact on the pound against the dollar, it is worth mentioning: The net amount of borrowed funds of the public sector.
GBP/USD forecast & technical analysis on July 21, 2017 suggests an attempt to continue the decline of the pair in the area below the level of 1.2770 after a minor correction of the pound’s quotations to the 1.3030 area.
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