Currency pair pound dollar GBP USD continues to move in the downward trend, and at the moment there is a potential for a tight test punched resistance level near 1.21 area and continuation of the fall to the breakdown of the descending channel’s lower border, which will trigger the acceleration of falling quotations pound dollar.
GBP USD Forex Forecast Pound Dollar on January 17, 2017
We continue to keep selling the pound and are ready to increase the volume of sales to the extent of the fall. Cancellation option will drop the pair quotes strong growth and the breakdown region of the upper boundary of the descending channel that will point to a continuation of upward correction.
Among the important news from the UK, which may have an impact on the pound stands out, the consumer price index, the main index of consumer prices, retail price index, as well as the statement by the Prime Minister Theresa May speech.
GBP USD Forex Forecast Pound Dollar on January 17, 2017 suggests a tight test the breached resistance area and to continue falling with a potential target at levels below 1.18 area.
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