Currency pair Pound Dollar GBP/USD completes trading week near the level of 1.3184. 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 Ichimoku Kinko Hyo Cloud is expected to test near the 1.32 level, from which it is expected to attempt a rebound and further develop the bearish trend for GBP/USD with a target near the level of 1.2780.
Pound Dollar forecast GBP/USD on October 23 — 27, 2017
An additional signal in favor of the fall is the resistance level test. Earlier, a weak signal was received for the sell of the Pound/Dollar pair, due to crossing of the signal lines at the level of 1.3305. 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 area of 1.3350, which indicates a change in the bearish trend in favor of the bullish. Expect the acceleration of the fall in quotations GBP/USD is at the breakdown of the level of 1.3020.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
