The currency pair Pound to Dollar GBP/USD has completed the current trading month at 1.2545. The pair continues to move within the descending channel and at the moment there is still potential for continuing the decline of the pound-dollar pair.
GBP/USD Forecast British Pound on April 2017
Quotations test the upper limit of the forex model of the Triangle, which indicates a possible rebound and a fall to the lower boundary of the model, with a breakdown which is expected to accelerate the fall in the area below the level of 1.17. In favor of falling quotations GBP/USD is the test of the downward trend line on the indicator of relative strength. Canceling the option will be a strong pound in April 2017 above the upper bound of the model, indicating that the pair continues to grow above 1.32.
Among the important news that could affect the British Pound exchange rate in April 2017, it is worth highlighting the PMI index for the manufacturing sector on April 3, the PMI Index for the construction sector on April 4, 2017, the PMI index for the services sector on April 5, 2017, April 7, 2017, Consumer Price Index April 11, 2017, The change in the number of applications for unemployment benefits on April 12, 2017.
GBP/USD Forecast British Pound on April 2017 involves a rebound attempt from the upper boundary of the Triangle and The decline in the region below the level of 1.19, which indicates the exit of quotes outside the model and the continuation of the decline.
