Currency pair pound dollar GBP USD continues to move in the strong upward correction, but the potential for a fall in quotations pound dollar saved as part of the descending wave pattern Wolfe forex with the potential to reduce the level below 1.22 areas.
Cancellation option will be a strong growth area and the breakdown of the local maximum that will point to a continuation of growth of pair quotes pound dollar to above the level of 1.2850.
GBP USD Forex Forecast on February 2, 2017
In favor of a bounce quotation GBP/USD will perform the test descending line of resistance on the indicator of relative strength. Acceleration of falling of pair is expected to support the field of breakdown at the level of 1.2350.
Among the important news from the UK, which may have an impact on the pound against the US dollar, it stands out, the decision on the basic interest rate, it is expected that the rate will remain at 0.25% Summary of the Monetary Policy Report of the Bank of England on inflation.
GBP USD Forex Forecast on February 2, 2017 suggests an attempt to level the upper boundary of the rising channel and attempt to drop test under the beginning of the descending pattern Wolfe waves with a potential target of the fall to below 1.22 area.
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