The currency pair pound dollar GBP USD continues to move within the downward channel, quotes were able to push off the lower border of the channel, however, the risks of falling remain due to the downward trend test on the relative strength indicator.
GBP/USD Forecast Pound Dollar on March 16, 2017
The cancellation of the variant of falling quotations of the pound-dollar pair will be a breakdown of the area of 1.23, which will indicate the continuation of growth in the upper-bounds of the downward channel near the level of 1.2440. Expect to accelerate the fall of the pair is with the breakdown of the lower boundary of the downward channel and with the closing of the pair below the area of 1.2110.
Among the important news from Britain that can influence the pound versus the dollar, it is worth highlighting, the decision on the Bank of England’s principal interest rate, the planned volume of asset purchases by the Bank of England, and the Summary of Monetary Policy.
GBP/USD Forecast Pound Dollar on March 16, 2017 suggests an attempt to rebound and fall of quotations within the downtrend test on the relative strength indicator, the breakdown of the breakdown of the 1.23 area will indicate that the growth will continue to the area of 1.2440.
