The technical analysis of GBP/USD and forecast for the week 5 – 9 september 2016

gbp_cfd_1Pound was supported by the strong data on business activity in the industrial sector in England. Contrary to expectations, the index is not only not declined, but has updated 26 month high – 53.3 points against 47.3 a month earlier. Market participants are once again talking about the fact that the country’s exit from the EU structure is not much impact on the national economy.

On Monday, you should pay attention to data on activity in the UK services which accounts for over 80% of economic growth. If this report will be better than expected, the pound will continue to recover.

Currency pair GBP/USD showed a rebound from the bottom border outset, the “bulls” pound their sights on the upper limit of the test – the level of 1.3470. Relative Strength Indicator signals in favor of the growth rate of sterling. Thus, forex forecast of GBP/USD on the week provides an upward movement, from the outset the upper limit is expected to decrease prices.

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