GBP/USD Forecast Pound to US Dollar on May 2, 2017


The currency pair GBP/USD British Pound to US Dollar continues to test the upper boundary area of the rising channel. It is worth waiting for an attempt to rebound and fall the pound dollar into an area below the level of 1.2770.

GBP/USD Forecast Pound to US Dollar on May 2, 2017

In favor of falling quotes is the breakdown of the ascending trend line on the indicator of relative strength. The abolition of the reduction option will be a strong growth and breakdown of the 1.30 area. Near the area of 1.2770, one should expect an attempt to form a reversal forex model of the Head and Shoulders.

GBP/USD Forecast Pound to US Dollar on May 2, 2017

Among the important news from Britain, which may have an impact on the pound against the dollar, it is worth highlighting, the PMI index for the manufacturing sector, is expected to slightly decrease from 54.2 to 54.

GBP/USD Forecast Pound to US Dollar on May 2, 2017 suggests an attempt to fall into the area below the level of 1.2770 within the framework of working out a broken trend line on the indicator of relative strength.


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