Currency pair Pound Dollar GBP/USD completes trading week near area 1.3097. 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 1.3230 and continue the fall of quotations in the area below the level of 1.2520.
GBP/USD weekly forecast & analysis July 30 — August 3, 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 fall of the GBP/USD pair will result in strong growth and breakdown of the area of 1.3370, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1.3850. A confirmation of the fall of GBP/USD will be the breakdown of the support area and the closing below the level of 1.3050.
GBP/USD weekly forecast & analysis July 30 — August 3, 2018 suggests an attempt to test the resistance level near the area of 1.3230, from where it is expected to continue the fall of the pair with a target below the area of 1.2520, 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 strong growth and breakdown at 1.3370 level.