Pound at the end of the week happened to be under pressure after the publication of not strong enough data of the GDP growth for the first quarter. The revised estimate of GDP confirmed the loss of momentum in economic recovery. The county’s export have also turned out to be weaker than analysts’ expectations.
GBP/USD technical analysis and forecast for 05/30/2016 – 06/03/2016 week
The GBP / USD currency pair continues to trade within the ascending channel. The main purpose for the “bulls” is located in the top of the channel 1.50. The RSI aims to test the resistance level. The GBP / USD forecast for the week 30 May 2016 – 06 March 2016 provides movement to the level of 1.48, but first a correction to 1.4550.
