The currency pair British Pound to US Dollar GBP/USD continues to test the upper boundary area of the Wedge model. It is worth expecting a rebound and a drop in quotations of the pound dollar in the area below the level of 1.30.
GBP/USD forecast & analysis Pound Dollar on August 2, 2017
In favor of the fall of the pair, a trend line test will be performed on the indicator of relative strength. The abolition of the British pound decline option will be a breakdown at the level of 1.33, which will indicate continued growth.
Among the important news from Britain that can influence the pound versus the dollar, it is worth highlighting: The PMI index for the construction sector is expected to slightly change from 54.8 to 54.2, which may have a short-term pressure on the pound against the US dollar.
GBP/USD forecast & analysis Pound Dollar on August 2, 2017 suggests an attempt to reduce it as part of the start of the Forex model Wedge, the cancellation will break through the level of 1.33.
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