Technical Analysis of GBP/USD 05/14/2018

The currency pair GBP/USD continues to move downward after exiting the lower border of the rising channel. We should expect a test of the resistance area test near the level of 1.3700 and the continuation of the quotes fall into the area below the 1.32 level.
In favor of the British Pound fall will test the trend line on the indicator RSI, as well as complete the formation of the reversal model “Double Top”. The cancellation of the currency pair fall will result in strong growth and breakdown of the 1.39 area, which will indicate the resistance area breakdown.
Among the important news from the UK, which may have an impact on the Pound Dollar rate, it is worth highlighting: The change in the number of applications for unemployment benefits.


Created by Joshua Hayn

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