Technical analysis of GBP/USD 11/22/2018
The GBP/USD currency pair continues to move as part of the correction and the formation of the “Wolfe Wave” model. At the moment, we should expect an attempt to continue the fall and test the support area near the level of 1.2700. Expect a rebound and continued growth of the pound against the dollar again. The purpose of the upward movement of the currency pair is the area of level 1.3170.
Test trend line on the RSI indicator will favor the growth of the pair. Cancellation of the growth of the pair will fall with the closure of quotes below 1.2600. This will indicate a breakdown of the support level and a continued decline in the pair to the area below 1.2500.
Created by Joshua Hayn