Currency pair Pound Dollar GBP/USD is trading at 1.4079. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Pound/Dollar pair. Ichimoku Kinko Hyo Cloud near the level 1.4085 is expected to be tested, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 1.3890.
GBP/USD forecast Pound Dollar April 5, 2018
An additional signal in favor of the fall of the pair is the resistance level test. Earlier, a weak signal was received for buy of the Pound/Dollar pair, due to crossing of the signal lines at the level of 1.4065.
The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.4135, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in GBP/USD quotations with the breakdown of the lower bound of the bearish model and the closing below the level of 1.3990.
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