General strengthening of the US dollar after the release of strong US economic statistics supported the “bears” of the GBP/USD pair. Sterling swooped and updated the previous week minimum.
Technical analysis and forecast of GBP/USD on tomorrow
Pound in the GBP/USD pair remains weak and is traded at the lower boundary of the downward channel. On the four-hour chart, GBP/USD continues to test the level of support, which is expected to be rebounded from. As part of the GBP/USD forecast for 01.03.2016, it is expected the correction, but the consolidation of the pair below 1.3850 will signal in favor of the continuation of this decline to the key support levels of 1.38 and 1.37.
