GBP USD Forex Forecast on January 11, 2017. Support Test

Currency pair pound dollar GBP USD continues to move in the downward trend and at the moment there is the potential for the breakdown of the support and continuation of decrease below 1.20. Cancellation option will attempt to output quotes Pound Dollar beyond the upper boundary of the descending channel that indicates the continuation of an upward correction.

GBP USD Forex Forecast on January 11, 2017

In favor of the version of the fall continues to support the breakdown of the trend line on the indicator of relative strength.

GBP USD Forex Forecast on January 11, 2017

Among the important news from the UK, tomorrow 11 January 2017, which could have a strong influence on the course of the pair GBP USD, is to provide, volume of production in the manufacturing sector, the growth rate is expected at the level of -0.9% to 0.5%, which could support the British pound as well as the trade balance.

GBP USD Forex Forecast on January 11, 2017 suggests an attempt to drop and breakdown area of support at 1.21, and the potential to reduce the level below 1.20 area.

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