The currency pair British Pound to US Dollar GBP/USD finished the trading week at 1.2805. Quotations of the pair were able to break through the upper border of the Forex model of the Triangle, which indicates the continuation of the pair’s growth as part of the Forex model development.
GBP/USD Forecast British Pound on April 24 — 28, 2017
At the moment, we should expect a fall attempt and a test of the broken channel border at 1.27, from which we should expect a rebound and continued growth of the pound dollar. In favor of the development of the upward trend, a test of the broken resistance line will appear on the indicator of relative strength. Cancellation of the growth option will be the fall and breakdown of the area of 1.26, which will indicate the return of quotes of the pair into the Forex model.
Among the important news from Britain, which may have an impact on the GBP/USD currency rate on the next trading week, the net volume of public sector borrowings April 25, 2017, GDP change, BBA mortgage volume April 28, 2017.
GBP/USD Forecast British Pound on April 24 — 28, 2017 suggests an attempt to continue the pair’s growth to the area above the level of 1.34 as part of the Forex Triangle pattern, cancel the fall and breakdown of the area of 1.26, which will indicate the continuation of the downward trend in the pair.
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