The currency pair British Pound US Dollar GBP/USD continues to decline as part of the rebound from the upper bound of the Triangle pattern on the daily chart of the pair. At this time, we should expect an attempt to develop an upward correction in the upper boundary of the downward channel, where the pair will meet the resistance area test, where again one should expect a fall.
GBP/USD Prediction Pound Dollar on March 29, 2017
In favor of lowering the quotations, the pound dollar will perform a downward trend test on the indicator of relative strength. The purpose of the fall of the pair is the area at a level below 1.2360. The cancellation of the pair’s decline option will trigger a breakdown of the upper boundary of the downward channel, which will indicate an attempt to increase the pair GBP/USD in the region above the level of 1.2525. With the breakdown of the minimum area, we should expect an acceleration in the decline in quotations of the pound dollar.
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