Currency pair pound dollar GBP USD ends the week trading near the support area at 1.2190. At the moment, the pair continues moving inside the descending forex 1:1 model with the potential to reduce and working out at a local minimum. At the beginning of the new trading week, we should not exclude an attempt to slight correction to the upper boundary of the descending channel and continue falling on the field.
GBP USD Forecast on January 16, 2017 — January 20, 2017
Cancellation option mill breakdown level 1.2550, which will point to the growth in the area of the resistance level near 1.2880 area. With the breakdown of the level of support is expected to accelerate the fall of the pound against the dollar quotes to 1.15 below.
Among the important news from the UK, which could affect the course of the currency pair GBP USD on the next trading week, we should mention, the Bank Governor’s speech England Mark Carney speech January 16, 2017, the consumer price index and the statement by the Prime Minister Theresa May with a speech on January 17 2017 Changes in the number of applications for unemployment benefits, the growth rate is expected at the level of 2.4K to 4.6K level, which could put pressure on the pound sterling 18 January 2017, retail Sales, taking into account fuel costs.
GBP USD Forecast on January 16, 2017 — January 20, 2017 suggests an attempt to continue the drop in prices pair within the limits of the descending pattern forex 1:1, cancellation options exit dance quotes beyond the upper limit of the downward channel.
