The currency pair pound dollar GBP USD finished the trading week at 1.2160. The pair continues to decline in line with expectations and at the moment there is still potential for continuing the decline of the pound against the dollar with the first drop target at 1.21, the breakdown of which will indicate the continuation of the fall into the area below the level of 1.14.
GBP/USD Forecast on March 13, 2017 — March 17, 2017
In favor of the option of continuing the decline, act as a breakdown of the trend line on the indicator of relative strength. However, do not exclude the attempt of correction with the test of the broken line, after which the pair will continue to fall. The abolition of the GBP/USD decline may be the breakdown of the area of 1.28, which will indicate the end of the downward trend for the pound.
Among the important news from Britain that may affect the GBP/USD exchange rate on the following trading week, the change in the number of applications for unemployment benefits on March 15, 2017, the decision on the Bank of England’s principal interest rate on March 16, 2017, and the planned volume of purchases Assets by the Bank of England, Summary of Monetary Policy.
GBP/USD Forecast on March 13, 2017 — March 17, 2017 suggests an attempt to continue the decline of the pound quotations with the first target at 1.21, the breakdown of which will indicate the continuation of the decline to the area below the level of 1.14.
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