Currency pair Pound Dollar GBP/USD is trading at 1.3901. 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 is expected to test near the level of 1.3935, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 1.3705. An additional signal in favor of the fall of the pair will be the test of the lower bound of the «Triangle» model.
Pound Dollar forecast GBP/USD on March 1, 2018
Earlier, a medium strength signal was received for the sell of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3965. The cancellation of the fall of the quotes of the pair will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the area of 1.4020, which indicates the change of the bearish trend in favor of the bullish. Expect the acceleration of the fall in the price of GBP/USD with the breakdown of the support area and the closing below the level of 1.3760.
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