The currency pair Pound to US Dollar GBP/USD continues to trade near the area of 1.2470 and at the moment there is still a potential for continuing the fall into the area below the level of 1.23. In favor of the fall is the formation of a reversal pattern Double top, which indicates the completion of growth and the continuation of the fall of the pound-dollar pair.
GBP/USD Forecast Pound Dollar on April 6, 2017
An additional signal is a rebound from the downward trend line on the indicator of relative strength. Expect to accelerate the fall of quotations of the pair is with the breakdown of the area 1.24. Canceling the option of reducing the GBP/USD pair will be a breakdown of the area of 1.2550, which indicates that the pound continues to rise above 1.2650.
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 Pound Dollar on April 6, 2017 suggests an attempt to continue the decline as part of the start of the reversal of the forex model the double top with a potential drop target is below the 1.23 area.
