The currency pair pound dollar GBP USD continues to move within the upward channel, however, the potential for a fall is maintained within a tight test of the downward trend line on the indicator of relative strength. In favor of a fall, the upper bound of the Forex model of the Triangle model can also perform. Consider selling the pair the pound dollar stands with the breakdown of the lower boundary of the rising channel.
GBP/USD Forecast British Pound on March 29, 2017
The first target of the fall will be the area at the level of 1.2450. Canceling the option of lowering the quotations of the pound dollar will be a strong increase in the breakdown of the region of the upper border of the upward channel with the closing of quotations of the pair above the area of 1.2680.
Among the important news from Britain that can influence the pound against the dollar, it is worth highlighting, the volume of net loans to individuals, and March 29, Teresa May launches BREXIT, which could provoke a strong volatility increase on a pair of pound dollars.
GBP/USD Forecast British Pound on March 29, 2017 suggests an attempt to lower the resistance from the descending resistance line on the relative strength indicator with the potential target of a decline near the 1.2450 area.
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