The currency pair Pound Dollar GBP USD continues to move within a strong downward trend, the pound is still looking weak. At the moment, quotes are testing the upper limit of the downward channel and the potential for continuing the fall of quotes of the pound dollar to the area below the level of 1.21 remains.
In favor of the continuation of the decline is a tight test of the downward trend line on the indicator of relative strength.
GBP/USD Forecast Pound Dollar on March 13, 2017
The abolition of the fall of the pound dollar will be a breakdown of the area of 1.22, which indicates that the growth will continue to the area above the level of 1.23. We continue to hold sales of the pair and try to increase the volume of short positions in the pair. 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 March 13, 2017 suggests an attempt to fall within the rebound from the upper boundary of the downward channel with a potential reduction target at a level below the 1.21 area.
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