GBP USD Forecast British Pound on January 2017

Currency pair pound dollar GBP USD continues to move within the framework of the descending forex 1:1 model. The purpose of the fall is the area to speak here at the level of 1.15 – 1.10. Cancellation option of continuing falling of quotations pound against the dollar may be strong price growth GBP/USD above the 1.2950 level, which indicates the output pair of the upper border of the descending channel and the continued development of the upward correction for the pair to test 1.33 area.

GBP USD Forecast British Pound on January 2017

In favor of the continuation of the fall, and also acts as a tight test of the descending trend line on the indicator of relative strength. But do not rule out another attempt to test the upper boundary of the channel, which is expected to complete the formation of reversal pattern head and shoulders.

GBP USD Forecast British Pound on January 2017

We continue to hold the sale Pound Dollar and ready to build aggressive positions as reduction and breakdown of important levels.

Among the important events in January 2017, which may have an impact on the British Pound stands out, PMI index for the production sector, which will be presented to the market January 3, 2017, as well as the PMI index for the construction sector, data will be published Jan. 4, 2017.

GBP USD Forecast British Pound on January 2017 suggests an attempt to continue the drop in prices pair within the limits of the descending forex model 1:1 in order to fall to the level of 1.15 – 1.10, the cancellation option will yield quotations pound beyond the upper limit of the downward channel.

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