GBP/USD weekly forecast & analysis October 22 — 26, 2018

 

Currency pair Pound Dollar GBP/USD ends the trading week near the 1.3028 area. The pair continues to move within the Triangle» model. At this point we can expect an attempt to test the resistance area near the level of 1.3100. Further, the continuation of the decline in quotations of the pound dollar to the area below the level of 1.2485.

An attempt to test the resistance level near 1.3100 area, from which we can expect the pair to continue to fall below 1.2485, the additional test signal for the trend line on the relative strength index (RSI) cancellation of the fall option of the pair Pound/Dollar will be a strong growth and the breakdown level of 1.3310, in this case, we should expect the pair to continue to grow.