The currency pair British Pound to US Dollar GBP/USD continues to move within the bullish momentum. At this point, we should expect a rebound from the level of the upper limit of the downward channel and the fall in quotations of the Pound against the US dollar to the area below 1.28.
GBP/USD forecast & analysis Pound Dollar on September 7, 2017
In favor of reducing the pair Pound/Dollar on Forex is the test of the bearish resistance line on the indicator of relative strength index (RSI). The cancellation of the pair’s downgrade option will be a strong growth and a breakdown at 1.3120, which will indicate continuation of the bullish movement along the pair with a potential target near the area of 1.3250.
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 7, 2017 suggests an attempt to test the upper bound of the bearish model 5-0 and continue the decline in quotations to below the level of 1.28, the cancellation of the Pound decline versus the US Dollar will break through the 1.3120 area.
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