Technical analysts at MIG Bank claim that if British pound fails to close the week above the 1.5911/1.6030 resistance area, the downtrend from November maximum at 1.6299 will be confirmed. In such case the pair GBP/USD will start moving down to 1.5665 and 1.5345 on its way to the psychological level of 1.5000.

If sterling manages to close above 1.5911/1.6013, it will mean that 1.4230/1.6299 correction ended at 1.5345 and the bulls will drive the pair’s rate up to 1.6299 and then to 1.6878/1.7043.



Chart. H4 GBP/USD

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