Currency pair Pound Dollar GBP/USD is trading at 1.4006. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend in the Pound/Dollar pair. The Ichimoku Kinko Hyo Cloud Upgrade Test is expected near the 1.4020 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 1.3905. An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel.
Pound Dollar forecast GBP/USD on February 16, 2018
Earlier, we received a weak signal for buy of the Pound/Dollar pair, due to the crossing of the signal lines at the level of 1.3890. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.4060, indicating a change in the flat trend in favor of the bullish trend. To expect the acceleration of the fall in the GBP/USD quotes stands with the breakdown of the lower boundary of the Indicator Cloud and the closing below the level of 1.3840.
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