“Bulls” on the pound managed to stop the decline of the GBP / USD pair. The driver for the quotations growth was the positive economic statistics on industrial production in the UK.
Next week it will be a meeting of the Bank of England, where the British regulator may decide to lower the key rate. The probability of such outcome is estimated by 60% by the market. Against this backdrop, the correction on the pound at any moment can turn into a new fall.
The EUR/USD technical analysis and forecast for the week 11 July 2016 – 15 July 2016
The GBP / USD currency pair shows a rebound after updating the multi-year lows. The RSI on the daily chart is in the support area a bounce up is expected that would send a signal to the form correction. Thus, the GBP / USD forecast for the week suggests the limited growth of the pound to the lower boundary of the descending channel, the next target is around 1.32.
