Currency pair pound dollar GBP USD continues to move in within expectations. Currently quotes pound dollar are outside the lower boundary of the rising channel, but could not break the support area. In general, we should expect the quotes to continue an attempt to fall to GBP USD below 1.21. Cancellation option will be a breakdown of 1.2420 area, which point to a continuation of the rising correction to above the level of 1.2680, which is expected to complete the formation of reversal pattern Forex Head and Shoulders.
GBP USD forex forecast on December 23, 2016
We continue to hold to sell the pair and are ready to increase the volume of sales with a decrease in development. Among the important news from the UK, which may have an impact on the British Pound against the US Dollar, we should mention, balance the current account balance of payments, as well as changes in GDP.
GBP USD forex forecast on December 23, 2016 suggests an attempt to continue falling in the framework of the development of the downward trend with the potential to reduce the level below the 1.21 area, we should expect a tight test of 1.2680 area in the event of a correction.