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 Pound to the US dollar is 1.2906. At this point, we should expect an attempt to test the upper limit of the downward channel near the level of 1.2915, 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 the Forex forecast is the area below the level of 1.2605.
GBP/USD forecast & technical analysis August 23, 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 quotations above the level of 1.2960, which will indicate the breakdown of the upper border of the channel and the continuation of the pair’s growth 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 1.2795.
GBP/USD forecast & technical analysis August 23, 2018 suggests a test of the resistance area near the level of 1.2915 and the continuation of the decline with a target below 1.2605, 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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