Currency pair Pound Dollar GBP/USD continues to move within the bearish channel. At this point, we should expect an attempt to test the resistance level near the area of 1.3920, where again we should expect a rebound and the continuation of the fall of the Pound against the US Dollar. The target of reducing the GBP/USD pair is the area below the level of 1.3650. In favor of the fall of the pair on Forex will test the resistance line on the indicator of relative strength index (RSI).
GBP/USD forecast & technical analysis March 7, 2018
The cancellation of the variant of the fall of the Pound/Dollar will be a strong growth and breakdown of the upper boundary of the bearish channel with a close above the 1.4010 area, indicating that the pair will continue to rise above the level of 1.4150. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below the level of 1.3750.
GBP/USD forecast & technical analysis March 7, 2018 suggests a test of the resistance area near the 1.3920 level and the continuation of the fall with a target below the level of 1.3650, an additional signal in favor of the fall of the British Pound will be a resistance line test on the relative strength index (RSI), strong growth and breakdown of the region of 1.4010.
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