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 1.3114. At this point, we should expect an attempt to test the resistance area near the level of 1.3140, where again we should expect a rebound and continue the decline of the British Pound against the US Dollar. The target of the fall of the GBP/USD pair is the area below the level of 1.2880.
GBP/USD forecast & technical analysis July 24, 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 be a strong growth and breakdown of the resistance area with the closing of quotes above the level of 1.3215, which will indicate the breakdown of the upper limit of the bearish channel and the continuation of the pair’s growth to the area above the level of 1.3350. To expect confirmation of the pair’s decline is the breakdown of the lower border of the channel and the closing below the level of 1.3030.
GBP/USD forecast & technical analysis July 24, 2018 suggests a test of the resistance area near the 1.3140 level and the continuation of the decline with a target below 1.2880, an additional signal in favor of the British Pound fall will be a resistance line test on the relative strength index (RSI).
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