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GBP/USD prediction & technical analysis on October 3, 2017

GBP/USD prediction & technical analysis on October 3, 2017


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Currency pair Pound Dollar GBP/USD continues to move within the limits of the decline. At the moment, we should expect an attempt to grow the pair in the area above the level of 1.3450. Where again we should expect a rebound and a drop in quotations below the level of 1.3240.

GBP/USD prediction & technical analysis on October 3, 2017

In favor of the growth of the pair on Forex is the test of the support area on the indicator of relative strength index (RSI). The cancellation of the pair’s growth option will result in a drop and a breakdown at 1.3200 level, which will indicate that the pair continues to fall below the level of 1.31. Expect the acceleration of the pair GBP/USD growth with a breakdown of the level of the upper boundary of the bearish channel.

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 PMI Index for the construction sector.

GBP/USD prediction & technical analysis on October 3, 2017 suggests a rebound from the support level with a target to rising near the level of 1.3400, where we can expect further decline, an additional signal in favor of the Pound’s rise against the US Dollar is the support area test on the relative strength indicator (RSI).

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