Currency pair pound dollar GBP USD closed the week at 1.2291. The pair continues to trade within the downward trend and currently retained potential for further reduction of quotations pound dollar. In favor of the fall version appears breakdown ascending trend line on the indicator of relative strength. We should expect the attempt to re-test the line and rebound and lowering quotes GBP/USD.
GBP/USD Forecast on March 6, 2017 — March 10, 2017
The immediate goal of the fall is the area at the level of 1.2050, this field sample points to continued decline in the area of a local minimum. GBP/USD Cancellation option quotations fall, will sample the region of 1.27, which indicates the completion of reduction of the pound and the beginning of an upward trend for the pair.
Among the important news from the UK, which could affect the course of the currency pair GBP USD on the next trading week, the annual budget of 8 March 2017, The Industrial Production March 10, 2017.
GBP/USD Forecast on March 6, 2017 — March 10, 2017 suggests an attempt to continue falling in the framework of the breakdown of the uptrend line on the indicator of the relative strength in order to reduce the level of 1.2050, a breakdown of this area is expected to continue decline.
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