Currency pair Pound/Dollar GBP/USD continues to move as part of a decline. At the time of the publication of the forecast, the pound to dollar rate is 1.3120. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3205, from which we can again expect a rebound and the continuation of the decline of the Pound against the Dollar. The target of the fall of the GBP/USD currency pair is the area at 1.2840.
GBP/USD forecast Pound Dollar October 18, 2018
In favor of reducing the pair at Forex, a trend line test on the relative strength index (RSI) will come out. Cancellation of the option of falling the Pound/Dollar pair will be a strong growth and the breakdown of the resistance area with the closing of quotes above the level of 1.3275, which will indicate a breakdown of the resistance level and the continued growth of the pair to the area above the level of 1.3350. It is worth waiting for the confirmation of the pair’s decline with the breakdown of the lower border of the «Triangle» model and closing below the level of 1.3075.
Among the important news from the UK, which may have an impact on the rate of the pair GBP/USD, it is worth highlighting: The change in the volume of retail trade, taking into account fuel costs.
GBP/USD forecast Pound Dollar October 18, 2018 suggests an attempt to test the resistance area near the level of 1.3205 and continue to fall with a target below 1.2840, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI), the cancellation option will be strong growth and breakdown of the 1.3275 area, which will indicate continued growth of the pair.