The currency pair British Pound to US Dollar GBP/USD breaks the lower limit of the Forex Wedge model, we should expect an attempt to continue the decline to the area below the level of 1.28, as we wrote in the previous forecast of GBP/USD.
Technical analysis and GBP/USD forecast on May 12, 2017
A break of this level will indicate the continuation of the decline to the area below 1.2650. In favor of accelerating the decline will break through the lower limit of the Forex model of the Triangle on the indicator of relative strength. Cancellation of the option of lowering the quotes of the Pound Dollar will break through the local maximum area, which will indicate the continued growth of the GBP/USD pair.
Important news from Britain, which may have an impact on the GBP/USD exchange rate, is not expected, so the pair will continue to move within the technical analysis of GBP/USD.
Technical analysis and GBP/USD forecast on May 12, 2017, suggests an attempt to fall below 1.28 as part of the start of the development of the forex model of the Wedge, with breakdown of this level it is expected to fall to the area below the level of 1.26, the cancellation will be a strong growth and breakdown of the region 1.30.
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