The currency pair British Pound to US Dollar GBP/USD continues to move in the fall. At this point, we should expect a rebound upward and the continued growth of quotations of the Pound against the US Dollar in the area above the level of 1.3010.
GBP/USD forecast & analysis Pound Dollar on September 1, 2017
Where again we should expect a rebound and a fall in the pair’s quotes with a potential target near the level of 1.2870, as part of the start-up of the bearish wave model of Wolfe. In favor of the growth of the Pound/Dollar pair on Forex is the test of the rising trend line on the indicator of relative strength index (RSI). The cancellation of the pair’s decline will be a strong growth and a breakdown at 1.3080, which will indicate the continuation of the upward movement along with the potential target near the 1.3150 area. Consider selling the pair is near the area of 1.30.
Among the important news from the UK which can have a strong impact on the rate of the GBP/USD pair, it is worth highlighting: the PMI index for the manufacturing sector.
GBP/USD forecast & analysis Pound Dollar on September 1, 2017 suggests an attempt to increase the pair to an area above the level of 1.3010 as part of the completion of the formation of the bearish Wolfe wave model, from which it is expected to reduce the pair with a potential target near the area of 1.2870, an additional signal in favor of the pair’s growth support line test on on the indicator of relative strength index (RSI).
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