The currency pair British Pound to US Dollar GBP/USD continues to move as part of the development of the bearish Wolfe wave model with a potential drop target below 1.26. At this point, we should expect a rebound and a rise in the quotations of the Pound/Dollar in the resistance area at 1.2930, where again we should expect a pair fall with a potential target near the area of 1.2600.
GBP/USD forecast & analysis Pound Dollar on August 16, 2017
Abolishing the option of reducing the pair will be a strong growth and breakdown of the area of 1.3010, which will indicate the continuation of the bullish correction for the pair.
Among the important news from the UK that can influence the rate of the Pound against the US Dollar, it is worth highlighting: The change in the number of applications for unemployment benefits.
GBP/USD forecast & analysis Pound Dollar on August 16, 2017 suggests a correction attempt to the area of 1.2930, where it is expected to fall below 1.2600.
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