Currency pair Pound Dollar GBP/USD is trading at 1.3886. 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 1.3890 is expected to be tested, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 1.3680.
Pound Dollar forecast GBP/USD on March 8, 2018
An additional signal in favor of the fall of the pair is the resistance level test. Earlier, we received a weak force signal for buy of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3815.
The cancellation of the fall of the pair quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.3915 area, which indicates 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 1.3780.
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