The currency pair pound dollar GBP USD continues to move within the downward trend, the pair quotes are testing the lower boundary of the descending channel, however, the breakdown of this region has not taken place yet. Do not exclude the attempt to correct the quotations in the area of 1.23, where again we should expect the continuation of the fall in the area below the level of 1.20.
GBP/USD Forecast British Pound on March 10, 2017
In favor of the fall, the test of the downward trend line will appear dense on the indicator of relative strength. In the case of a breakdown of the lower boundary, it is expected to accelerate the fall without a test at 1.23. We continue to hold sales of the pair and are ready to try new deals with breakdown of the lower border of the channel.
Among the important news from Britain, which can have an impact on the pound against the dollar, it is worth highlighting, the change in the volume of industrial production, the balance of the balance of visible trade.
GBP/USD Forecast British Pound on March 10, 2017 suggests an attempt to rebound from the lower border of the channel to the area of 1.23, where again we should expect the fall of quotations of the pound dollar to the area below the level of 1.20.
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