Currency pair Pound Dollar GBP/USD continues to move within a bearish trend. At the time of publication of the forecast, the rate of the Pound to the US Dollar is 1.3002. At this point, we should expect an attempt to test the resistance area near the level of 1.3080, where again we should expect a rebound and a continued decrease in the Pound versus the Dollar. The target of the fall of the GBP/USD pair is the area below the level of 1.2770.
GBP/USD forecast & technical analysis July 20, 2018
In favor of reducing the pair on Forex will test the resistance line on the indicator of relative strength index (RSI), as well as test the lower boundary of the model «Triangle». 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 1.3170, which will indicate the breakdown of the resistance area and the continuation of the pair’s growth in the area above the level of 1.3470. To expect confirmation of the pair’s decline is with the breakdown of the lower border of the channel and the closing below the level of 1.2900.
GBP/USD forecast & technical analysis July 20, 2018 suggests a test of the resistance area near the level of 1.3080 and the continuation of the decline with the target below the level of 1.2780 within the start of the «Triangle» model, an additional signal in favor of the British Pound fall will be a resistance line test at an indicator of relative strength index (RSI), the abolition of the reduction option will be a strong growth and breakdown of the region of 1.3170, which indicates the continued growth of the pair.
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