Currency pair pound dollar GBP USD continues to move in the upward correction, at the moment there is a potential for the formation of the descending pattern forex 5-0 with a potential target of the level below the 1.2050 area.
GBP USD Forex Forecast Pound Dollar on January 24, 2017
Cancellation option will be a strong growth of quotations and going beyond the upper boundary of the descending channel with the closing quotes above level 1.2550, which will point to continued growth. In favor of the fall is the formation of the descending wave pattern Wolfe and dense downlink test the resistance on the display relative strength.
However, it is important to wait for the upper limit of the test, and only consider selling out. Among the important news that could affect the pound stands out, net borrowings of the public sector.
GBP USD Forex Forecast Pound Dollar on January 24, 2017 assumes the test area of 1.25 attempts, where there is expected to complete the formation of the descending pattern forex 5-0 that will point to a continuation of the fall to below 1.2050.
