The currency pair British Pound to US Dollar GBP/USD continues to move within bearish wave model of Wolfe. At this point, we should expect a rebound from the level of 1.3030 and the fall in quotations of the Pound against the US dollar in the area below the level of 1.28.
GBP/USD forecast & analysis Pound Dollar on September 6, 2017
In favor of reducing the Pound/Dollar pair on Forex will perform a downlink resistance test 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 bullish movement along with the potential target near the 1.3150 area.
Important news from the UK, which may have an impact on the rate of the GBP/USD pair, is not expected, therefore the pair will continue to move within the technical analysis GBP/USD.
GBP/USD forecast & analysis Pound Dollar on September 6, 2017 suggests a rebound attempt from 1.3030 level and 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 cancellation of the pound drop option will be the breakdown of the region 1.3080.
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