Currency pair Pound/Dollar GBP/USD continues to move as part of the rise and the bullish channel. At the time of the publication of the forecast, the rate of the Pound to the US Dollar on Forex is 1.3967. Moving averages indicate a short-term bullish trend. Prices broke up the area between the signal lines, which indicates pressure from the sellers of the currency pair and the potential continuation of the fall of the instrument. At the moment, we should expect an attempt to correct the British Pound against the US Dollar and test the support area near the level of 1.3865. Where again can we expect a rebound and a continuation of the rise in quotations of the British Pound against the US Dollar. The target of the pair’s growth, in the framework of the Forex forecast for July 30, 2021, is the area at the level of 1.4045.
GBP/USD Forecast Pound Dollar July 30, 2021
An additional signal in favor of raising the currency pair will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the upper border of the descending channel. Cancellation of the option to raise the pair Pound/Dollar will be a fall with a breakdown of the support area with the price fixing below 1.3785. This will indicate a breakdown of the support area and the continuation of the fall of the Pound/Dollar pair to an area below the level of 1.3545. It is worth waiting for confirmation of the rise in the pair with the breakdown of the resistance area and closing of the price above the level of 1.4025.
GBP/USD Forecast Pound Dollar July 30, 2021 suggests an attempt to test the support area near the level of 1.3865. Then, continued growth with a target above the level of 1.4045. An additional signal in favor of a rise in the British Pound will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1.3785 area. This will indicate a continued decline in the pair with a potential target below 1.3545.
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