Currency pair Pound Dollar GBP/USD is trading at 1.3789. 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 1.3880 is expected, from which it is expected to attempt a rebound and continue falling of the pair with the target near the level of 1.3605.
Pound Dollar forecast GBP/USD on March 6, 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, 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 pair quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 1.3940 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 1.3675.
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