Currency pair Pound Dollar GBP/USD continues to move within the limits of the decline. At this point, we should expect a test of resistance level near the area of 1.3550, 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 GBP/USD pair is the area below the level of 1.3300.
GBP/USD forecast & technical analysis May 8, 2018
In favor of the fall of 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 upper border of the channel with the closing of quotes above the level of 1.3590, 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 1.3430.
GBP/USD forecast & technical analysis May 8, 2018 suggests a test of the resistance area near the 1.3550 level and the continuation of the fall with a target below the level of 1.3300, an additional signal in favor of the fall of the British Pound will perform a resistance line test on the relative strength index (RSI).
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