Currency pair Pound Dollar GBP/USD is trading at the level of 1.3805. 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 near the level 1.3820 is expected to be tested, from which it is expected to attempt a rebound and continue the fall of the pair with the target near the level of 1.3640.
Pound Dollar forecast GBP/USD on March 12, 2018
An additional signal in favor of the fall of the pair will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, we received a weak signal for purchases of the Pound/Dollar pair, due to the intersection of the signal lines at 1.3815.
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 1.3930 area, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in GBP/USD quotations with the breakdown of the support area and the closing below the level of 1.3700.
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