Currency pair Pound/Dollar GBP/USD continues to move within the limits of the decline. At the time of the publication of the forecast, the pound to dollar rate is 1.2961. At the moment, we should expect an attempt to grow and test the resistance area near the level of 1.3055, from where we should again expect a rebound and the continuation of the decline of the Pound against the Dollar. The target of the fall of the GBP/USD currency pair, in the framework of the GBP/USD forecast Pound Dollar October 3, 2018, is the area at the level of 1.2725.
GBP/USD forecast Pound Dollar October 3, 2018
In favor of reducing the pair at Forex, a test of the downward trend line on the indicator of relative strength index (RSI) will perform. Cancellation of the option of falling the Pound/Dollar pair will be a strong growth and the breakdown of the resistance area with the closing of quotes above the level of 1.3090, which will indicate a breakdown of the local maximum and the continued growth of the pair to the area above the level of 1.3270. Expect confirmation of a decline in the pair with the breakdown of the support area and closing below 1.2930.
Among the important news from the UK, which may have an impact on the GBP/USD pair, the PMI index for the services sector is expected to decline from 54.3 to 54.0, which may put short-term pressure on the British Pound rate.
GBP/USD forecast Pound Dollar October 3, 2018 suggests an attempt to test the resistance area near 1.3055 and continue to fall with a target below 1.2725, an additional signal in favor of reducing the British Pound will be a trend line test on the relative strength index (RSI), canceling the fall option strong growth and breakdown of the 1.3090 area, which will indicate continued growth of the pair.
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