Currency pair British Pound to US Dollar GBP/USD is trading at 1.2852. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair Pound/Dollar. It is expected to test the area of signal lines near the level of 1.2880, from which one should expect an attempt to fall and develop a bearish tendency for a pair with a view to lower near the level of 1.2760.
Forex technical analysis GBP/USD on May 31, 2017
Earlier, a weak signal was received for the sale of the pair GBP/USD, due to the crossing of the signal lines at the level of 1.2968. The cancellation of the fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1.2930, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations GBP/USD stands with the breakdown of the local minimum area at the level of 1.2780.
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