The currency pair Pound to Dollar GBP/USD continues to move within the fall due to a rebound from the upper limit of the Triangle model. At the moment, the potential for continuing the decline of the pound-dollar pair into the area below the level of 1.23 is still present.
GBP/USD Forecast British Pound on March 30, 2017
In favor of continuing the fall is the breakdown of the ascending trend line on the indicator of relative strength, as well as the output of quotations of the pair beyond the ascending channel. It is worth to wait for the test of the pierced resistance area, as well as the trend line test on the relative strength indicator and the continuation of the fall of the GBP/USD pair quotes.
Cancellation of the reduction option may be a strong pound growth against the dollar above the level of 1.2680, which will indicate the outflow of quotations outside the Triangle and the probable continuation of the pair’s growth.
Important events from Britain, which may have an impact on the pound dollar rate is not expected, so the pair will continue to move in the technical analysis of GBP/USD.
GBP/USD Forecast British Pound on March 30, 2017 suggests an attempt of correction to the area of 1.2475 and continuation of the decline to the area below the level of 1.23, the benefit of the fall is the breakdown of the upward support line on the indicator of relative strength.
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