GBP/USD forecast & technical analysis May 16, 2018


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Currency pair Pound Dollar GBP/USD continues to move within a bearish trend. At this point, we should expect an attempt to test the resistance level near the area of ​​1.3655, where again we should expect a rebound and the continuation of the fall of the Pound against the Dollar. The fall target of the GBP/USD pair is the area below the level of 1.3245.

GBP/USD forecast & technical analysis May 16, 2018

In favor of the fall of the pair on Forex will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the fall of the Pound/Dollar pair will be a strong growth and breakdown of the upper border of the channel with the closing of quotations above the level of 1.3850, which will indicate the breakdown of the resistance area and the continued growth of the pair. To expect confirmation of the fall of the pair is with the breakdown of the support level and closing below the level of 1.3400.

GBP/USD forecast & technical analysis May 16, 2018

GBP/USD forecast & technical analysis May 16, 2018 suggests a test of the resistance area near the level of 1.3655 and the continuation of the fall with a target below the level of 1.3245, an additional signal in favor of the fall of the British Pound will test the resistance line on the indicator of relative strength index (RSI).


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