Currency pair Pound Dollar GBP/USD is trading at 1.3114. 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 test area of Ichimoku Kinko Hyo indicator lines near the level of 1.3210 is expected, from which it is expected to attempt a fall with the target near the level of 1.3070. An additional signal in favor of falling quotations of the pair will be a resistance level test.
Pound Dollar forecast GBP/USD on October 9, 2017
Earlier, a weak signal was received for the sell of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3540. The cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1.3370, 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 channel’s lower boundary and the closing below 1.3000.