The currency pair Pound/Dollar GBP/USD on Forex is still traded in the framework of the downtrend model 1:1 with the potential goal to fall into the area lower than 1.33. The strong growth of the GBP/USD quotations higher than the upper border of the channel next to 1.4460 can cancel the option of applying this model. Yesterday we expected the pound correlation to form the reversal model to keep the trend, but now this model is not relevant anymore for the current chart of Pound/Dollar pair. However the number of the Related Strength Index will test the support area soon, that may cause the attempt of quotations growth, but, in general, we expect Pound keep falling.
Daily forex forecast/signal GBP/USD on March 17
Thus, the Forex forecast for Pound Dollar GBP/USD for 17.03.2016 consider the closest support level falling at the Relative Strength Index with the attempt of an ascending correlation, after that expect the continuation of GBP/USD quotations falling.
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