Currency pair Pound Dollar GBP/USD completes the trading week near the area of 1.2831. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the correction and resistance area test near the level of 1.2925. Further, the continuation of the fall in the quotes of the Pound/Dollar in the area below the level of 1.2345.
GBP/USD weekly forecast & analysis August 27 — 31, 2018
In favor of the decline of the British Pound, a trend line test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the bearish channel. The reversal of the GBP/USD fall in the current trading week on August 27 — 31, 2018 will be a strong growth and breakdown of the area of 1.3070, which will indicate the breakdown of the upper border of the channel and the continuation of growth in 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 1.2650.
GBP/USD weekly forecast & analysis August 27 — 31, 2018 suggests a test of the resistance level near the area of 1.2925, from which it is expected to continue the fall of the pair with a target below the area of 1.2345, 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
