Currency pair Pound/Dollar GBP/USD continues to move in the upward correction and the descending channel. At the time of the publication of the forecast, the pound to dollar rate is 1.2690. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to continue growth and test the resistance area near the level of 1.2715. Where once again we should expect a rebound and the continuation of the decline of the pound against the dollar. The target of the downward movement of the currency pair, in the FOREX forecast for June 21, 2019, is the area at the level of 1.2365.
GBP/USD Forecast Pound Dollar June 21, 2019
In favor of the fall of the currency pair will test the resistance line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to drop the pair Pound/Dollar will be a strong increase with the closure of quotations above 1.2795. This will indicate a breakdown of the upper boundary of the downward channel and the continued growth of the Pound/Dollar pair in the area above the level of 1.3025. Expect confirmation of the fall of the pair is with the breakdown of the support area and closing below 1.2555.
GBP/USD Forecast Pound Dollar June 21, 2019 suggests an attempt to test the resistance area near the level of 1.2715. Then the continuation of the fall with the target below 1.2365. An additional signal in favor of reducing the British Pound will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 1.2795 area. This will indicate continued growth of the pair with a potential target above level 1.3025.
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