Currency pair Pound Dollar GBP/USD continues to move within a bearish trend. At this point, we should expect an attempt at a resistance area near the level of 1.3380, where again we should expect a rebound and the continuation of the fall of the British Pound against the US Dollar. The target of the fall of the pair GBP/USD is the area below the level of 1.3055.
GBP/USD forecast & technical analysis June 6, 2018
In favor of the fall of the pair on Forex will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders» in small time intervals. 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 1.3430, which will indicate the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below the level of 1.3225.
GBP/USD forecast & technical analysis June 6, 2018 suggests a test of the resistance area near the level of 1.3380 and the continuation of the fall with a target below the level of 1.3055, 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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