Currency pair Pound Dollar GBP/USD continues to move within the correction and the bearish channel. At the time of publication of the forecast, the Pound/Dollar rate is 1.3275. At this point, we should expect an attempt to test the resistance area near the level of 1.3340, where again we should expect a rebound and a continued decrease in the British Pound/US Dollar. The target of the fall of the pair GBP/USD is the low level area 1.3020.
GBP/USD forecast & technical analysis July 10, 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 result in a strong growth and breakdown of the upper border of the channel with the closing of quotations above the level of 1.3390, which will indicate the breakdown of the channel’s border and the continued growth of the pair into the area above 1.3550. The expectation of the pair’s decline is with the breakdown of the support area and closing below 1.3200 level.
GBP/USD forecast & technical analysis July 10, 2018 suggests a test of the resistance area near the level of 1.3340 and the continuation of the decline with a target below the level of 1.3020, an additional signal in favor of the fall of the British Pound will test the trend line on the indicator of relative strength index (RSI).
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