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 1.2836. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.2895, from which we should again expect a rebound and a continued decline of the British Pound against the US Dollar. The target of the fall of the currency pair GBP/USD, in the framework of the GBP/USD forecast Pound Dollar October 30, 2018, is the area at the level of 1.2670.
GBP/USD forecast Pound Dollar October 30, 2018
A test of the trend line on the relative strength index (RSI), as well as a test of the upper limit of the downward channel, will be in favor of reducing the pair on Forex. 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 1.2970, which will indicate a breakdown of the resistance level and continued growth of the pair to the area above the level of 1.3050. Expect confirmation of a decline in the pair is with the breakdown of the support area and closing below 1.2755.
GBP/USD forecast Pound Dollar October 30, 2018 suggests an attempt to test the resistance area near 1.2895 and continue to fall with the target below 1.2670, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI).