The currency pair British Pound to US Dollar GBP/USD continues to move within the framework of the «Head and Shoulders» reversal pattern.
GBP/USD forecast & analysis Pound Dollar on August 15, 2017
The pair will continue to test the support area. At this point, we should expect a rebound and a rise in the quotations of the Pound/Dollar to the area above the level of 1.3140, where again we should expect the pair to fall with a potential target near the area of 1.2760.
In favor of the fall of GBP/USD, a resistance line test will be performed on the relative strength indicator (RSI). Canceling the option of reducing the pair will be a strong growth and breakdown of the area of 1.3280, which will indicate the continuation of the upward movement in the pair.
Among the important news from the UK, which can influence the rate of the Pound against the US dollar, it is worth highlighting: the Consumer Price Index.
GBP/USD forecast & analysis Pound Dollar on August 15, 2017 suggests a correction attempt to the 1.3140 area as part of the completion of the «Head and Shoulders» reversal pattern, where it is expected to fall below 1.2760.
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