Currency pair pound dollar GBP USD continues to move within the framework of the descending pattern with the target of the fall 5-0 at a level below the area of 1.2080. Currently we hold a deal to sell the pound and are willing to try new positions at the time of the next test, the upper limit of the downward channel.
GBP USD Forecast British Pound on January 16, 2017
Cancellation option of falling quotations pound dollar will sample the area 1.2330, which indicates the continuation of an upward correction.
In favor of the fall is the rebound of the descending resistance line. Important news from the UK is not expected, so the pair will continue to move in the technical analysis of GBP/USD.
GBP USD Forecast British Pound on January 16, 2017 suggests an attempt to reduce under the completion of the descending pattern with the target at 5-0 levels below 1.2080 area.
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