Currency pair Pound/Dollar GBP/USD continues to move as part of the fall and left the bullish channel. At the time of the publication of the forecast, the rate of the Pound to the US Dollar on Forex is 1.4077. Moving averages indicate a short-term bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the currency pair and a potential continuation of the fall of the instrument. At the moment, we should expect an attempt to grow the British Pound against the US Dollar and test the resistance area near the level of 1.4105. Where can we expect a rebound again and a continuation of the fall in quotations of the British Pound against the US Dollar. The target of the pair’s downward movement, in the Forex forecast for June 16, 2021, is the area at the level of 1.3805.
GBP/USD Forecast Pound Dollar June 16, 2021
An additional signal in favor of the fall of the currency pair will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of a decline will be a rebound from the lower boundary of the bullish channel. Cancellation of the option to drop the pair Pound/Dollar will be a strong growth with a breakdown of the resistance area with prices fixing above 1.4205. This will indicate a breakdown of the resistance area and continued growth of the Pound/Dollar pair to the area above the level of 1.4455. It is worth waiting for confirmation of the pair’s fall with the breakdown of the support area and closing prices below 1.3905.
GBP/USD Forecast Pound Dollar June 16, 2021 suggests an attempt to test the resistance area near the level of 1.4105. Then, the continuation of the fall with the target below 1.3805. An additional signal in favor of the fall of the British Pound will be a test of the resistance line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 1.4205 area. This will indicate a continued rise in the pair with a potential target above the level of 1.4455.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link