Currency pair Pound Dollar GBP/USD continues to move within the limits of growth. At the moment, the pair is testing the area of 1.32. It is necessary to expect the breakdown of the upper boundary of the descending channel and the attempt to grow above the level of 1.3450.
GBP/USD prediction & technical analysis on October 13, 2017
In favor of the growth of the pair on Forex is the breakdown of the bearish trend line on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. Cancellation of the pair’s growth option will be a drop and breakdown at the level of 1.2970, indicating that the pair will continue to decline below 1.2850. Expect to accelerate the growth of the GBP/USD pair with a breakdown of 1.3220.
GBP/USD prediction & technical analysis on October 13, 2017 suggests a rebound from the level of the bottom border of the rising channel for the target of growth above 1.3450, an additional signal in favor of the Pound’s rise against the US Dollar is the formation of the «Head and Shoulders» reversal model, the level of 1.2970.