Currency pair pound dollar GBP USD at the beginning of December 2016 is testing the resistance area close to the upper boundary of a descending channel.
FOREX GBP USD Forecast at December 2016
We should expect a rebound attempt and the beginning of fall in the framework of the descending forex model 1:1 in order to fall below the level of 1.14. In favor of a continuation of falling of quotations pair pound dollar in December 2016 testing the trend line on the indicator of relative strength, as we see, the pound has already made a start on the line at the time of decision on BREXIT. Cancellation option of falling of pair can become a strong growth above the level of 1.2950, which indicates the continuation of an upward trend for the pair. Among the important events in December 2016, which may have an impact on the pound sterling stands out, the consumer price index on 13 December and the decision on the basic interest rate of the Bank of England, December 15, 2016.
FOREX GBP USD Forecast at December 2016 suggests an attempt to rebound from the upper border of the descending pattern of 1:1 and the beginning of reduction of the potential target of the fall to below 1.14 area will be the abolition of the output pair of quotes above the upper boundary of the channel.