The currency pair pound dollar GBP USD continues to move within the descending channel and at the moment quotations tightly test the lower border of the channel. It is worth waiting for an attempt to rebound quotes in the area above the level of 1.23.
However, the breakdown of this boundary will indicate the acceleration of the fall of quotations of the pound dollar in the area below the level of 1.20.
GBP/USD Forecast Pound Dollar on March 8, 2017
In favor of continuing the decline is a rebound from a broken trend line on the indicator of relative strength. The cancellation of the variant of the pair price reduction will be the breakdown of the area of 1.23, which will indicate the continued growth in the area of the upper boundary of the descending channel.
Among the important news from Britain, which can have an impact on the pound against the dollar, it is worth highlighting the Annual Budget.
GBP/USD Forecast Pound Dollar on March 8, 2017 suggests a rebound from the lower border of the channel to the area of 1.23, in the case of breakdown of this region it is expected to accelerate the fall of quotations of the pair.
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