The currency pair British Pound to US Dollar GBP/USD continues to move within the upward movement. At this point, we should expect a rebound from the level of the upper boundary of the bearish model «5-0» and the fall in quotations of the Pound against the US dollar in the area below 1.2650.
GBP/USD forecast & analysis Pound Dollar on September 8, 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 abolition of the pair’s downgrade option will be strong growth and breakdown at 1.3150 level, which will indicate the continuation of the upward movement along with the potential target near the 1.3250 area and the cancellation of the bearish model «5-0».
Among the important news from the UK, which may have an impact on the rate of the GBP/USD pair, it is worth highlighting: The change in the volume of industrial production.
GBP/USD forecast & analysis Pound Dollar on September 8, 2017 involves an attempt to test the upper boundary of the bearish model «5-0» and continue to decline the quotations to below the level of 1.28, the cancellation of the Pound decline versus the US Dollar will break through the 1.3150 area.