Currency pair Pound/Dollar GBP/USD continues to move in an upward correction. At the time of the publication of the forecast, the pound to dollar rate is 1.3047. Moving averages indicate a downward trend. At the moment, we should expect an attempt to fall and test the support area near the level of 1.3005. Where once again we can expect a rebound and continued growth of the pound against the dollar. The target of the upward movement of the currency pair, in the framework of the FOREX forecast for May 3, 2019, is the area at the level of 1.3245.
GBP/USD Forecast Pound Dollar May 3, 2019
In favor of the growth of the currency pair will test the rising trend line on the indicator of relative strength index (RSI). As well as a rebound from the upper limit of the descending channel. Cancellation of growth options for the pair Pound/Dollar will fall with the closing of quotes below 1.2970. This will indicate a breakdown of the upper boundary of the channel and the continuation of the fall of the Pound/Dollar pair to an area below 1.2845. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and closing above the level of 1.3095.
GBP/USD Forecast Pound Dollar May 3, 2019 implies an attempt to test the support area near the level of 1.3005. Then continued growth with the target above level 1.3245. An additional signal in favor of the growth of the British Pound will be the test of the trend line on the relative strength index (RSI). Cancellation option lift will fall and the breakdown of the area 1.2970. This will indicate a continued decline in the pair with a potential target below 1.2845.
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