Currency pair pound dollar GBP USD closed the week at 1.2372. Currently pair quotes will continue to move downward under the FX 1:1 model with a potential target of the drop in level and the area below 1.14. In favor of the version of the pound falling of quotations on the current trading week dense stands the test downward trend line on the indicator of relative strength.
GBP USD Forecast on January 23, 2017 — January 27, 2017
Cancellation option will quotations going beyond the upper boundary of the descending channel that will point to a continuation of growth of pair GBP/USD in the area above the level of 1.2850. Is expected to accelerate the fall of quotations is a breakdown of the 1.2080 area.
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, Speech of the Bank of England Governor Mark Carney’s speech 25.01.2017, as well as changes in GDP January 26, 2017, with the figure expected to decline the level of 0.6% to 0.5%, which could put pressure on the British pound.
GBP USD Forecast on January 23, 2017 — January 27, 2017 suggests an attempt to fall within the framework of the continuation of the descending pattern 1:1 with the potential to reduce the area below 1.14, the cancellation option will break-down area of 1.25, which points to continued growth.
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