Currency pair Pound Dollar GBP/USD continues to move within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the rate of the British Pound to the US Dollar is 1.3250. At this point, we should expect an attempt to test the upper limit of the model near the level of 1.3300, where again we should expect a rebound and continue the decline of the British Pound against the US Dollar. The target of the fall of the pair GBP/USD is the area below the level of 1.2800.
GBP/USD forecast & technical analysis July 18, 2018
In favor of reducing the pair on Forex will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the fall of the Pound/Dollar pair will result in a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.3360, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of the pair’s growth in the area above the level of 1.3450. To expect confirmation of the pair’s decline is with the breakdown of the support area and closing below the level of 1.3100.
GBP/USD forecast & technical analysis July 18, 2018 suggests a test of the resistance area near the level of 1.3300 and the continuation of the decline with a target below the level of 1.2800 within the beginning of the «Triangle» model, an additional signal for the fall of the British Pound will test the resistance line at an indicator of relative strength index (RSI), the abolition of the reduction option will be a strong growth and breakdown of the area of 1.3360, which indicates the outflow of quotes outside the «Triangle» model and the continued growth of the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
