Currency pair pound dollar GBP USD continues to move within the downtrend and is currently testing the upper limit of the downward channel FX models 5-0, which indicates a potential rebound and fall to a local minimum. We are trying to sell gbp usd with tight stop above 1.2330 level.
Forex forecast GBP USD Pound Dollar on January 13, 2017
In favor of a continuation of the fall is the dense test downward trend line on the indicator of relative strength. The purpose of the fall is the area on the level below the 1.2080 area.
Cancellation option of falling currency pair Pound Dollar quotations will be a strong growth area of 1.2340 and a break that will point to the continued growth of quotations of GBP/USD. Among the important news from the UK, which may have an impact on the pound stands out, report on credit conditions, as well as the performance of the Bank of England board member Michael Saunders speech.
Forex forecast GBP USD Pound Dollar on January 13, 2017 suggests an attempt to fall within the beginning of the descending pattern 5-0 to reduce to below 1.2080 area.
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