Currency pair Pound Dollar GBP/USD closes the trading week near the area of 1.2722. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the resistance area near the level of 1.2955 and continue falling quotations in the area below the level of 1.2240.
GBP/USD weekly forecast & analysis August 20 — 24, 2018
In favor of the decline of the British Pound, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the GBP/USD fall in the current trading week will result in a strong growth and breakdown of the 1.3060 area, which will indicate the breakdown of the upper border of the channel and the continuation of growth to the area above the level of 1.3550. A confirmation of the fall of GBP/USD will be the breakdown of the support area and the closing below the level of 1.2600.
GBP/USD weekly forecast & analysis August 20 — 24, 2018 suggests a test of the resistance level near the area of 1.2955, from where it is expected to continue the fall of the pair with a target below the area of 1.2240, an additional signal in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the abolition of the option of reducing the pair Pound/Dollar will be a strong growth and breakdown at 1.3060, in this case, we should expect the pair to start growing.
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