Technical analysis and forecast GBP/USD for the week 28.12.2015 — 31.12.2015

Pound showed an increase against the US dollar, however, fundamental support “British” is not received. On the contrary, was the revised UK GDP in favor of lowering. Obviously, the level of 1.48 attracts buyers of the pound.

GBP/USD returned to the medium-formation “wedge”. The depreciation of the pound stayed close to the level of 1.48. Forecast the pound/dollar a week implies an increase to the upper limit figure in the field of 1.51, and then expects a return to 1.49. The RSI could not break through the support and turned to the upside. It should be noted that the downward trend for the pair GBP/USD remains.

On the four-hour chart, the GBP/USD has a signal in favor of a resumption of decline, the RSI may show a rebound from the trend line that the pair will return under the lower border of the figure “wedge”. In such case, GBP/USD towards the lower boundary of the descending channel in area of 1.46.

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