Currency pair Pound/Dollar GBP/USD continues to move within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the rate of the British Pound to the US Dollar is 1.2738. At this point, we should expect an attempt to test the broken down channel border near the level of 1.2800, where again we should expect a rebound and the continued decline of the British Pound against the US Dollar. The target of reducing the currency pair GBP/USD, within the framework of Forex forecast is the area below the level of 1.2505.
GBP/USD forecast & technical analysis August 21, 2018
In favor of reducing the pair on Forex will test the resistance line on the indicator of relative strength index (RSI). 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 1.2870, which will indicate the continued growth of the pair in the area above the level of 1.3040. To expect confirmation of the pair’s decline is the breakdown of the lower bound of the «Triangle» model and the closing below the level of 1.2660.
GBP/USD forecast & technical analysis August 21, 2018 suggests a test of the resistance area near the level of 1.2800 and the continuation of the decline with a target below 1.2505, an additional signal for the fall of the British Pound will be a resistance line test on the relative strength index (RSI).
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