Currency pair Pound/Dollar GBP/USD continues to move within the bullish channel. At the time of publication of the forecast, the rate of the Pound to the US Dollar is 1.3190. At this point, we should expect an attempt to reduce and test the support area near the level of 1.3125, where again we should expect a rebound and continued growth of the British Pound against the US Dollar. The target of the growth of the currency pair GBP/USD, within the framework of the GBP/USD forecast Pound Dollar September 20, 2018, is the area at the level of 1.3305.
GBP/USD forecast Pound Dollar September 20, 2018
In favor of the growth of the pair on Forex will test the trend line on the indicator of relative strength index (RSI). The abolition of the growth variant of the Pound/Dollar pair will be the fall and breakdown of the support area with the closing of quotes below the level of 1.3075, which will indicate the breakdown of the lower border of the channel and the continuation of the pair’s fall into the area below the level of 1.2950. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing above the level of 1.3195.
Among the important news from the UK, which may affect the rate of the GBP/USD pair, it is worth highlighting: The change in the volume of retail trade taking into account the cost of fuel.
GBP/USD forecast Pound Dollar September 20, 2018 involves testing the support area near the level of 1.3125 and continuing growth with a target above 1.3305, an additional signal in favor of the growth of the British Pound is the trend line test on the relative strength index (RSI).