Currency pair Pound/Dollar GBP/USD continues to move as part of the decline and the formation of the «Triangle» model. At the time of the publication of the forecast, the pound to the US dollar is 1.3026. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3090, from where we should again expect a rebound and the continuation of the decline of the Pound against the US Dollar. The target of the fall of the GBP/USD currency pair, in the GBP/USD forecast Pound Dollar October 23, 2018, is the area at the level of 1.2800.
GBP/USD forecast Pound Dollar October 23, 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 1.3165, which will indicate a breakdown of the resistance level and the continued growth of the pair to the area above the level of 1.3220. It is worth waiting for the confirmation of the pair’s decline with the breakdown of the lower boundary of the «Triangle» model and closing below the level of 1.2970.
Among the important news from the UK, which may affect the rate of the pair GBP/USD, it is worth highlighting: Speech by the head of the Bank of England.
GBP/USD forecast Pound Dollar October 23, 2018 suggests an attempt to test the resistance area near 1.3090 and continue to fall with a target below 1.2800, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI).