Currency pair Pound Dollar GBP/USD closes the trading week near the area of 1.3856. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the support area near the level of 1.3650 and continue the growth of quotations in the area above the level of 1.4750.
GBP/USD weekly forecast on March 12 — 16, 2018
In favor of the growth of the British Pound, a trend line test will be performed on the relative strength index (RSI), as well as a test of the lower boundary of the bullish channel. Cancellation of the pair growth option will be a fall and breakdown of the area of 1.3350, which will indicate the breakdown of the lower boundary of the channel and the continuation of the fall into the area below the level of 1.2950.
GBP/USD weekly forecast on March 12 — 16, 2018 suggests a test of the support area near the level of 1.3650, from where it is expected to continue the growth of the pair with a target above the 1.4750 area, an additional signal in favor of growth will test the support line on the indicator of relative strength index (RSI), the abolition of the growth variant of the Pound/Dollar pair will break through the area of 1.3350.