Currency pair Pound Dollar GBP/USD is trading at 1.3971. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Pound/Dollar pair. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.4030 is expected, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 1.3740. An additional signal in favor of the fall of the pair is the resistance level test.
Pound Dollar forecast GBP/USD on February 7, 2018
Earlier, a weak signal was received for the sell of the Pound/Dollar pair, due to the crossing of the signal lines at 1.4125. 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 1.4215, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in GBP/USD quotes with the breakdown of the lower border of the channel and the closing below the level of 1.3920.
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