The currency pair GBP/USD British Pound to US Dollar is trading at 1.2903. The pair was able to update the local maximum area, however, the head and shoulders reversal pattern is created on the MACD indicator. The signal line has not yet left the MACD histogram limits, so do not exclude the attempt to grow the pound even higher. An additional signal in favor of the potential drop in the GBP/USD quotations British Pound to US dollar is the test of the upper boundary of the rising channel.
Technical analysis & forecast GBP/USD on April 28, 2017
The target of the fall is the area near the support level 1.2650. The cancellation of the variant of falling quotations will be a strong growth and breakdown of the area of 1.2980, in this case it is expected to continue growth within the breakdown of the upper boundary of the rising channel. Expect to accelerate the fall of the pair Pound Dollar stands with the breakdown of the level of the slow moving average and the closing of quotes below the level of 1.2760.
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