The currency pair Pound Dollar GBP/USD finished the trading week at 1.2371. The pair was able to show a rebound from the upper limit of the Forex Triangle model and there is a potential for continuing the fall of the pair into the region of the lower boundary of the model near the level of 1.21. The breakdown of this area will indicate the continuation of the decline in the area below the level of 1.17.
GBP/USD Forecast Pound Dollar on April 10 — 14, 2017
In favor of continuing the decline in the quotes of the pound-dollar pair, there is a rebound from the descending line of the trend on the indicator of relative strength. The reversal of the GBP/USD fall will be strong growth and breakdown of the region of the upper boundary of the model, which will indicate the continued growth of the pound dollar.
Among the important news from Britain that may influence the GBP/USD currency rate on the following trading week, the Consumer Price Index April 11, Speech by the Bank of England Governor Mark Carney with a speech, and the Change in the Number of Applications for Unemployment Benefits April 12.
GBP/USD Forecast Pound Dollar on April 10 — 14, 2017 suggests an attempt to continue the decline to the lower boundary of the Triangle at 1.21, the breakdown of which will indicate a drop below 1.17, the abolition of the pound-drop option will be a breakdown of the area of 1.2750.
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