Currency pair Pound Dollar GBP/USD continues to move within the framework of a bullish correction of the channel. At the time of publication of the forecast, the rate of the pound dollar is 1.3249. At this point, we should expect an attempt to test the resistance area near the level of 1.3265, where again we should expect a rebound and the continuation of the fall of the Pound against the Dollar. The target of reducing the GBP/USD pair and working out the model is the area below the level of 1.3020.
GBP/USD forecast & technical analysis July 6, 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 1.3330, 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 1.3200.
GBP/USD forecast & technical analysis July 6, 2018 suggests a test of the resistance area near the level of 1.3265 and the continuation of the fall with a target below the level of 1.3020, an additional signal in favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI).
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