Currency pair Pound Dollar GBP/USD completes the trading week near the area of 1.3002. The pair continues to move in a bearish trend. At this point, we should expect an attempt to develop correction and test of the support area near the level of 1.2820. Further, the continuation of the growth of quotations of the Pound/Dollar in the area above the level of 1.3290.
GBP/USD weekly forecast & analysis September 3 — 7, 2018
In favor of the growth of the British Pound will perform a test of a broken trend line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». The cancellation of the GBP/USD growth option for the current trading week on September 3 — 7, 2018 will be the fall and breakdown of the area of 1.2605, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1.2350. A confirmation of the growth of the GBP/USD will be the breakdown of the resistance area and the closing above the level of 1.3080.
Among the important news from the UK, which may have an impact on the Pound/Dollar rate, it is worth highlighting: the PMI index for the manufacturing sector, the PMI index for the services sector.
GBP/USD weekly forecast & analysis September 3 — 7, 2018 suggests a test of the support level near the 1.2820 area, where we can expect the pair to continue growing above the 1.3290 area, an additional signal in favor of growth will be a trend line test on the relative strength index (RSI), the cancellation of the growth variant of the Pound/Dollar pair will be a drop and breakdown at the level of 1.2605, in which case it is necessary to expect the pair to continue falling.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
