Currency pair pound dollar GBP USD reversed during a speech of Prime Minister Theresa May, as well as the statements of Donald Trump that BREXIT is temporarily postponed. Currently the pair is trading near the resistance area and has the potential to try to fall within the beginning of the descending pattern Shark.
Technical analysis and forex GBP USD Forecast January 18, 2017
The purpose of the fall is the area of 1.2130, where once again we can expect growth of quotations of the pound against the dollar. In favor of fast downward correction appears tight test downward trend line on the indicator of relative strength.
Cancellation option of falling quotations pound against the dollar would be the breakdown of the area of 1.25, which points to continued growth in the region above the level of 1.27. Among the important news from the UK, which may have an impact on the pound stands out, change in the number of applications for unemployment benefits, unemployment rate, change in the level of average earnings.
Technical analysis and forex GBP USD Forecast January 18, 2017 suggests an attempt to complete the formation of the model Shark and the beginning of reduction in the area of 1.2130, where once again we can expect the beginning of growth of quotations of GBP/USD.
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