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 British Pound to the US Dollar is 1.2822. At this point, we should expect an attempt to test the resistance area near the level of 1.2930, where again we should expect a rebound and the continuation of the fall of the Pound against the Dollar. The target of reducing the currency pair GBP/USD, within the framework of the Forex forecast, is the area below the level of 1.2550.
GBP/USD forecast & technical analysis September 5, 2018
In favor of the fall of the pair on Forex, an uptrend test on the relative strength index (RSI) will perform, as well as the formation of the head and shoulders reversal model. 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 1.3045, which indicates the breakdown of the upper border of the channel and the continuation of the pair’s growth into the area above the level of 1.3250. To expect confirmation of the fall of the pair is with the breakdown of the support area and closing below the level of 1.2750.
GBP/USD forecast & technical analysis September 5, 2018 suggests a test of the resistance area near the level of 1.2930 and the continuation of the fall with a target below 1.2550, an additional signal in favor of the decline of the British Pound will be a resistance line test on the relative strength index (RSI), strong growth and breakdown of the region of 1.3045, which will indicate the continued growth of the pair and the cancellation of the formation of the reversal pattern.
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