Currency pair Pound Dollar GBP/USD is trading at 1.4237. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in the Pound/Dollar pair. The test area of Ichimoku Kinko Hyo signal lines near the level 1.4175 is expected, from which it is expected to attempt a rebound and continue the growth of the pair with the target near the level of 1.4610.
Pound Dollar forecast GBP/USD on January 29, 2018
An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel. Previously, a strong signal was received for buy of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3520.
The cancellation of the growth of the quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 1.3745, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations GBP/USD is with the breakdown of the level of 1.4350.
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