The currency pair British Pound to US Dollar GBP/USD continues to move within the descending channel. At the moment, we should expect a test of the upper border of the channel and the continuation of the decline to the area below the level of 1.2750.
GBP/USD forecast & analysis Pound Dollar on August 22, 2017
In favor of the fall of the Pound/Dollar pair on Forex is the formation of the reversal model of the «Head and Shoulders» on the indicator of relative strength index (RSI). The abolition of the pair’s decline will be strong growth and breakdown at the level of 1.2950, as well as the resistance area, which will indicate the continuation of the upward correction for the pair. Expect to accelerate the fall of the Pound/Dollar pair will break through the area of 1.2820.
Important news from the UK is not expected, so the pair will continue to move in the technical analysis GBP/USD.
GBP/USD forecast & analysis Pound Dollar on August 22, 2017 suggests a rebound attempt from the upper boundary of the fall channel to an area below the level of 1.2750, with a breakdown of the breakout of the area of 1.2950.
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