Currency pair Pound Dollar GBP/USD is trading at 1.3965. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend for the Pound/Dollar pair. The Ichimoku Kinko Hyo Cloud is expected to test near the 1.3985 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 1.3740. An additional signal in favor of the fall of the pair is the upper bound of the «Triangle» model.
Pound Dollar forecast GBP/USD on February 28, 2018
Earlier, we received a weak signal for buy of the Pound/Dollar pair, due to crossing of the signal lines at the level of 1.3940. The cancellation of the fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.4040, which will indicate a change in the flat trend in favor of the bullish trend. Expect the acceleration of the fall in the quotes GBP/USD stands with the breakdown of the lower limit of the «Triangle» model and the closing below the level of 1.3900.