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/dollar is 1.3209. At this point, we should expect an attempt to test the resistance area near the level of 1.3250, where again we should expect a rebound and the continuation of the fall of the Pound against the Dollar, as part of the start-up of the bearish model «1:1». The target of reducing the GBP/USD pair and working out the model is the area below the level of 1.2755.
GBP/USD forecast & technical analysis July 5, 2018
In favor of the fall of the pair on Forex will perform a downward resistance test 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 resistance area with the closing of quotes above the level of 1.3350, which will indicate the breakdown of the upper border of the channel and the continuation of the pair’s growth into the area above the level of 1.3530. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below the level of 1.2980.
GBP/USD forecast & technical analysis July 5, 2018 suggests an attempt to test the resistance area near the level of 1.3250 and the continuation of the fall with a target below 1.2755, an additional signal in favor of the British Pound fall will be a resistance line test on the relative strength index (RSI), strong growth and breakdown of the region of 1.3250, which will indicate the output of quotations outside the channel and the continued growth of the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
