The currency pair British Pound to US Dollar GBP/USD continues to move within the framework of an bullish correction. At this point, we should expect a rebound from the resistance level and the continuation of the decline in quotations in the area below the level of 1.26.
GBP/USD forecast & analysis Pound Dollar on August 29, 2017
In favor of the fall of the Pound/Dollar pair on Forex is the resistance line test on the relative strength indicator (RSI). The reversal of the fall of the pair will be a strong growth and a breakdown at level 1.30, which will indicate the continuation of the bullish movement along the pair with the potential target near the area of 1.3150. Expect the acceleration of the fall in GBP/USD quotations with a breakdown of the level of 1.2790.
Important news from the UK is not expected, so the pair will continue to move in the technical analysis GBP/USD.
GBP/USD forecast & analysis Pound Dollar on August 29, 2017 involves an attempt to fall below the 1.26 level, an additional signal is the trend line test on the relative strength indicator (RSI), the cancellation of the fall will be a strong growth and breakdown at 1.30.
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