The currency pair British Pound to US Dollar GBP/USD continues to move as part of the start-up of the bearish wave model of Wolfe. At this point, we should expect a rebound from the level of resistance and falling quotations of the Pound against the US Dollar in the area below the level of 1.2820.
GBP/USD forecast & analysis Pound Dollar on September 5, 2017
In favor of reducing the Pound/Dollar pair on Forex will perform a bearish trend test on the indicator of relative strength index (RSI). The abolition 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.
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 services sector.
GBP/USD forecast & analysis Pound Dollar on September 5, 2017, suggests a rebound from the resistance level and the continuation of the decline to the area below the level of 1.2820 within the framework of working off the bearish wave of Wolfe, the breakdown of the fall variant will be a breakout of the area of 1.3080.