Currency pair Pound/Dollar GBP/USD continues to move as part of the fall. At the time of the publication of the forecast, the Pound to US Dollar rate on Forex is 1.2768. Moving averages indicate a short-term bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the currency pair and a potential continuation of the fall of the asset. At the moment, we should expect an attempt to correct the British Pound against the US Dollar and test the resistance area near the level of 1.2930. Where can we expect a rebound again and the beginning of a fall in quotations of the British Pound against the US Dollar. The target of the downward movement of the currency pair, in the FOREX forecast for September 24, 2020, is the area at the level of 1.2265.
GBP/USD Forecast Pound Dollar September 24, 2020
An additional signal in favor of the fall of the currency pair will be a test of the trend line on the relative strength index (RSI). The second signal in favor of a decline will be a rebound from the lower border of the ascending channel. Cancellation of the option to drop the pair Pound/Dollar will be a strong increase in the pair with quotations closing above the level of 1.3145. This will indicate a breakdown of the resistance area and continued growth of the Pound/Dollar pair to the area above the level of 1.3345. It is worth waiting for confirmation of the pair’s fall with the breakdown of the support area and closing the price below 1.2595.
GBP/USD Forecast Pound Dollar September 24, 2020 implies an attempt to test the resistance area near the level of 1.2930. Then, the continuation of the fall with the target below 1.2265. An additional signal in favor of a decline in the British Pound will be a test of the resistance line on the relative strength index (RSI). Cancellation of the fall option will be a strong price increase and a breakdown of the 1.3145 area. This will indicate a continued rise in the pair with a potential target above the level of 1.3345.
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