The pound came under pressure in the GBP / USD pair after the publication of weak data according the volume of construction in the UK. The effect of lowering the Bank of England’s forecasts for growth in the British economy in the years 2016-2018 also presents. Investors’ anxiety is amplified because of the weak statistics on the prospects of the economy and the pound sterling in the run-up to the referendum.
GBP/USD technical analysis and forecast on May 21
Pound is still traded near the upper limit of the downward channel. The RSI showed a rebound from the support level, which is a signal in favor of growth. The GBP / USD forecast for 17/05/2016 considered the pound strengthening to the level of 1.4450, where the consolidation will keep up next to the channel border.
