The currency pair pound dollar GBP USD continues to move within the descending channel, however, while the pair could not break through the lower boundary area, we should expect an attempt to rebound the quotes to the 1.23 area. In favor of falling quotes from the level of 1.23 will come a close test of the downward trend line on the indicator of relative strength.
GBP/USD Forecast Pound Dollar on March 14, 2017
Expect to accelerate the fall of quotations of the pair GBP pound stands with the breakdown of the lower boundary of the channel, which indicates the continuation of the decline in the area below the level of 1.21. 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 14, 2017 suggests an attempt at a minor correction and the continuation of the decline in the rebound from the downward trend line on the relative strength indicator with a potential reduction target below the 1.21 area.
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