Currency pair Pound to US Dollar GBP/USD completes the trading week near the area of 1.2970. The pair continues to push off from the upper border of the channel. At the moment, there is potential for the formation of the «Head and Shoulders» reversal pattern, which will indicate the continuation of the decline in the area below the level of 1.25.
GBP/USD weekly forecast on August 14 — 18, 2017
It is worth to expect an attempt to grow the pair in the area above the level of 1.3150. The cancellation of the fall of the GBP/USD pair will be triggered by the break-through of the 1.34 area, which will indicate the continued growth of the Pound/Dollar pair on Forex.
Among the important news from England on the following trading week, which may have an impact on the GBP/USD rate is the following: Consumer Price Index, Change in the number of applications for unemployment benefits, Change in retail trade, including fuel costs.
GBP/USD weekly forecast on August 14 — 18, 2017 suggests an attempt to fall to the area of the lower border of the rising channel at 1.25, an additional signal will be the formation of the «Head and Shoulders» reversal pattern.
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