The currency pair Pound to US Dollar GBP/USD continues to trade near the area of 1.2780. At the moment, the potential for rebounding upwards and continuing growth to the area above the level of 1.29 is still in place, from which one should expect an attempt to rebound and fall of the pair’s quotes.
Technical analysis & GBP/USD forecast on April 26, 2017
In favor of the decrease, the formation of the reversal Forex Head and Shoulder models will appear on the indicator of relative strength. Cancellation of the variant of the fall in the quotations of the Pound Dollar will be a breakdown of the area of 1.2970, which will indicate the continued growth of the pair.
Important events from Britain, which may have an impact on the pound dollar rate is not expected, so the pair will continue to move in the technical analysis of GBP/USD.
Technical analysis & GBP/USD forecast on April 26, 2017 suggests an attempt to continue the growth of quotations to the area above the level of 1.29 as part of the Forex Triangle model, near the 1.92 level one should expect the pair to start falling, and the breakdown of the area will be 1.2970.
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