GBP/USD forecast & technical analysis August 15, 2018


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Currency pair Pound/Dollar GBP/USD continues to move in the bearish channel. At the time of publication of the forecast, the rate of the British Pound to the US Dollar is 1.2771. At this point, we should expect an attempt to test the resistance area near the level of 1.2825, where again we should expect a rebound and a continued decrease in the British Pound versus the US Dollar. The goal of the fall of the GBP/USD pair is the area below the level of 1.2500.

GBP/USD forecast & technical analysis August 15, 2018

In favor of reducing the pair on Forex will test the resistance line on the indicator of relative strength index (RSI), as well as test the upper limit of the descending channel. Cancellation of the variant of the fall of the Pound/Dollar pair will be a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.2860, which will indicate the breakdown of resistance and the continued growth of the pair in the area above the level of 1.3040. To expect confirmation of the pair’s decline is with the breakdown of the support area and closing below the level of 1.2700.

GBP/USD forecast & technical analysis August 15, 2018

GBP/USD forecast & technical analysis August 15, 2018 suggests a test of the resistance area near the level of 1.2825 and the continuation of the decline with a target below 1.2500, an additional signal for the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI).

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