Currency pair Pound Dollar GBP/USD is trading at 1.4156. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in the Pound/Dollar pair. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 1.4100 level, from which it is expected to attempt a rebound and continue the growth of the pair with the target near the level of 1.4370.
Pound Dollar forecast GBP/USD on March 29, 2018
An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel. Earlier, a medium strength signal was received for buy of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3850.
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 1.4020, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations GBP/USD is with the breakdown of the resistance area and the closing above the level of 1.4255.