Currency pair British Pound to US Dollar GBP/USD continues to move within the bullish correction. It is worth to wait for the test of the area of 1.2900 and the beginning of the fall of the pair GBP/USD. In favor of falling quotations of the pair will come a tight test of the bearish resistance line on the indicator of relative strength index (RSI).
Technical analysis GBP/USD on June 2, 2017
The cancellation of the GBP/USD decline will result in strong growth and breakdown of the area of 1.2970, which will indicate the continued growth of the pair.
Among the important news from Britain that can influence the British Pound against the US Dollar, it is worth highlighting: PMI index for the construction sector, it is expected to decline from the level of 53.1 to the level of 52.7, which may put pressure on the British pound against the US dollar.
Technical analysis GBP/USD on June 2, 2017 involves an attempt to test the area of 1.2950 and the beginning of the fall of the currency pair to the area below the level of 1.27, the cancellation of the fall of the pair’s quotes will result in a strong growth and breakdown of the area of 1.2970, which will indicate continued growth.
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