The currency pair Pound Dollar GBP/USD went into the development of an upward correction and is currently trading near the area of 1.2490. At the moment, the potential for continuing the growth of quotations of the pound dollar to the area above the level of 1.2520 remains. Whence it is necessary to expect attempt of falling of pound in area below level 1.2430.
Technical analysis and Forecast GBP/USD on April 12, 2017
In favor of the drop, a down-line resistance test will be performed on the relative strength indicator. The cancellation of the option can be a strong growth and breakdown of the area 1.27. Also, we should not exclude the formation of the bearish wave model of Woolf with the aim of working below the area of 1.2260.
Among the important news from Britain that can influence the pound versus the dollar, it is worth highlighting, Speech by the Head of the Bank of England with a speech, Change in the number of applications for unemployment benefits, Unemployment rate, Change in average earnings.
Technical analysis and Forecast GBP/USD on April 12, 2017 involves an attempt to test the area of 1.2520 and the beginning of the fall into the area below the level of 1.2430, in case of growth above 1.26, one should expect the completion of the formation of the bearish wave model of Wolf.
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