Currency Pound Pound Dollar GBP USD continues to move within the descending channel. At the moment, the pair’s quotes are testing the resistance area and there are risks of falling into the 1.21 area. In favor of the option of reducing the pound-dollar pair, act as a tight test of the downward trend line on the relative strength indicator.
GBP/USD Forecast Pound Dollar on March 17, 2017
The abolition of the fall variant will be a breakdown of the region of 1.23, which indicates the continuation of growth in the region of the upper boundary of the descending channel near the area of 1.2450. With the breakdown of area 1.21, it is expected to accelerate the fall of the GBP/USD 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 17, 2017 suggests a fall attempt within the rebound from the resistance area with a potential downside target near 1.21.
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