Currency pair pound dollar GBP USD continues to move in the descending channel and currently retained potential for a bearish trend for the pair. Quotes are repelled from the upper boundary of the channel, and is awaiting the fall in the area below the level of 1.21. The breakdown of the field point to a continuation of falling of pair in the region below the local minimum near the region of 1.15.
GBP/USD forecast British Pound exchange rate March 2017
In favor of a continuation of falling of quotations of the dollar the pound in March 2017 stands the test downward trend line on the indicator of relative strength. Cancellation option of reduction of quotations pair GBP/USD will perform sample the upper limit of the downward channel and closing quotes above 1.28 area, which point to continued growth with a potential target at a level above 1.35 area.
Among the important news from the UK, which may have an impact on the pound against the dollar in March this year, is to provide, Industrial Production March 10, 2017, decision on the basic interest rate of the Bank of England, March 16, 2017, it is expected that the rate will remain at the level of 0.25% Summary of monetary policy, as well as planned volume of asset purchases by the Bank of England.
GBP/USD forecast British Pound exchange rate on March 2017 suggests an attempt to rebound the pair from the top of the descending channel borders and continue to reduce to the level of 1.21, with a breakdown of which is expected to test the area of a local minimum, the cancellation option fall couples mill breakdown field of 1.28, which indicates continued growth in the region above the level of 1.35.
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