The rate of pound has managed the falling in comparison with the US dollar. The British statistics has surprised the market players: the February retail sales has reduced less, than it was predicted – by 0.4%, meanwhile the basic index has reduced by 0.2%
GBP/USD technical analysis and forecast for 03/28/2016 – 04/01/2016 week
On the daily chart GBP/USD the numbers of the Relative Strength Index is getting closer to the support area that limits the further quotations reduction by the 1.40 level. The pound rate can start rising from the current positions as well, considering the reversal model “Head&Shoulders”, which is formed. GBP/USD FOREX forecast for the week 03/28/2016 – 04/01/2016 considers the pound rate growth toward the top border of the ascending channel, where the “bulls” have their main goal.
