Currency pair British Pound to US Dollar GBP/USD completes trading week at 1.3031. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the pair British Pound to US Dollar. An insignificant correction is expected near the level of 1.2940, from which one should expect an attempt of growth and development of the bullish trend for the pair GBP/USD with the purpose of growth near the level of 1.3260.
GBP/USD weekly forecast on May 22 — 26, 2017
Earlier, we received a weak signal for buy of the pair British Pound to US Dollar GBP/USD, due to crossing of the signal lines at the level of 1.2335. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1.2435, which will indicate a change in the upward trend in favor of the downward trend. Expect the acceleration of the growth of quotations GBP/USD is with the breakdown of the local maximum area at 1.3200.
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