Currency pair pound dollar GBP USD closed the week at 1.2546. The pair was able to leave the confines of the descending channel, but at the moment the potential for falling quotations pound dollar saved. GBP/USD The immediate goal of reduction of quotations on the area below the 1.21 area. In favor of option in favor of resistance downlink test indicator of relative strength.
GBP USD Forecast on January 30, 2017 — February 3, 2017
Cancellation option will break through the resistance line of the display relative strength, which points to continued growth of quotations pound in the area above the level of 1.29. An additional signal in favor of the fall is the formation of the descending wave pattern Wolfe Forex in small time intervals indicating a drop to below 1.22.
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, decision on the basic interest rate of the Bank of England February 2, 2017, it is expected that the rate rejoice unchanged at 0.25%, as well as The PMI for the services sector February 3, 2017, is expected to slightly decrease in the indicator, which can also put pressure on the British pound.
GBP USD Forecast on January 30, 2017 — February 3, 2017 suggests an attempt to rebound from the resistance area and the pair falling of quotations in the area below the level of 1.21, the cancellation option will sample area 1.28.
