GBP/USD weekly forecast May 21 — 25, 2018


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Currency pair Pound Dollar GBP/USD completes trading week near area 1.3497. The pair continues to move within the limits of the decline. At this point, we should expect an attempt to test the resistance area near the level of 1.3750 and continue falling quotations in the area below the level of 1.2850.

GBP/USD weekly forecast May 21 — 25, 2018

In favor of the fall of the British Pound, a trend line test will be performed on the relative strength index (RSI), as well as the completion of the formation of the reversal model «Double Top». The target of the model is the area at the level of 1.2980. Canceling the fall of the pair will be a strong growth and breakdown of the 1.4050 area, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1.45. A confirmation of the fall of the GBP/USD will be the breakdown of the support area and the closing below the level of 1.3350.

GBP/USD weekly forecast May 21 — 25, 2018

GBP/USD weekly forecast May 21 — 25, 2018 suggests a test of the resistance level near the 1.3750 area, from where it is expected to continue falling of the pair with a target below the area of ​​1.2850, an additional signal in favor of the fall will be a trend line test on the relative strength index (RSI), the abolition of the option of reducing the pair Pound/Dollar will be a strong growth and breakdown at 1.4050 level.

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