Currency pair Pound/Dollar GBP/USD continues to move within the framework of a bullish correction. At the time of publication of the forecast, the rate of the British Pound to the US Dollar is 1.2832. At this point, we should expect an attempt to test the upper limit of the channel near the level of 1.2865, where again we should expect a rebound and a continued decrease in the Pound versus the US Dollar. The target of reducing the currency pair GBP/USD, within the Forex forecast is the area below the level of 1.2615.
GBP/USD forecast & technical analysis August 22, 2018
In favor of reducing the pair at Forex, a resistance area test will be performed 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 1.2950, indicating that the pair will continue to rise above 1.3040. To expect confirmation of the pair’s decline is with the breakdown of the support area and closing below the level of 1.2750.
GBP/USD forecast & technical analysis August 22, 2018 suggests a test of the resistance area near the level of 1.2865 and the continuation of the decline with a target below 1.2615, an additional signal for the fall of the British Pound will be a test of the resistance area on the indicator of relative strength index (RSI).
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