The currency pair Pound to Dollar GBP USD finished the trading week at 1.2467. The pair continues to move within the downward trend, as well as on the daily chart is formed the Forex Triangle model. It is worth waiting for an attempt to lower the quotations of the pound-dollar pair into the region below the model’s boundary. In favor of the fall of GBP/USD is the test of the downward trend line on the indicator of relative strength.
GBP/USD Forecast on March 27, 2017 — March 31, 2017
Reducing the pair from this line has already been earlier, so the potential for falling still remains at the moment. With the breakdown of area 1.21, it is expected to accelerate the fall of quotations with a potential reduction target near the level of 1.15. Canceling the option of lowering the quotations of the pair will be a breakdown of the descending trend line, as well as the exit of the pair’s quotes outside the upper limit of the Forex model of the Triangle. In this case, we should expect an attempt to continue the growth of GBP/USD quotations in the area above the level of 1.35.
Among the important news from Britain, which may affect the GBP/USD currency rate for the next trading week, the volume of net loans to individuals on March 29, 2017, is expected to slightly increase from 4.8B to 4.9B, the balance of the current account of the balance of payments is expected A significant change in the indicator from -25.5B to -16.3B, as well as a change in GDP, these figures will be presented on March 31, 2017.
GBP/USD Forecast on March 27, 2017 — March 31, 2017 involves a fall attempt within the rebound from the resistance line on the relative strength indicator for the purpose of falling near the lower boundary of the Forex model of the Triangle, the breakdown of which indicates the continuation of the pair’s decline.
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