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 Pound to the US dollar is 1.2959. At this point, we should expect an attempt to test the resistance area near the level of 1.3010, where again we should expect a rebound and continue the decline of the Pound against the Dollar. The target of the fall of the GBP/USD pair is the area below the level of 1.2730.
GBP/USD forecast & technical analysis August 8, 2018
In favor of reducing the pair on Forex will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall variant of the Pound/Dollar pair will result in a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.3100, which will indicate a breakdown of resistance and continuation of the pair’s growth into the area above the level of 1.3205. To expect confirmation of the pair’s decline is with the breakdown of the support area and closing below the level of 1.2910.
GBP/USD forecast & technical analysis August 8, 2018 suggests a test of the resistance area near the level of 1.3010 and the continuation of the decline with a target below 1.2730, an additional signal in favor of the British Pound fall will be a resistance line test on the relative strength index (RSI).