Currency pair Pound Dollar GBP/USD is trading at 1.2731. The pair continues to trade below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend for the pair Pound Dollar.
As part of the GBP/USD forecast Pound Dollar November 29, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.2815. Where should we expect an attempt to rebound and continue to reduce the currency pair with a target near the level of 1.2565.
GBP/USD forecast Pound Dollar November 29, 2018
An additional signal in favor of the fall in the GBP/USD currency pair will be a rebound from the resistance area. And also test the lower boundary of the model «Triangle». Previously, a strong signal was received for SELL the Pound/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.2825.
Canceling the option of falling quotes of the GBP/USD pair will be a breakdown of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.2905 area. Such a scenario that indicates a change in the downward trend in favor of the upward trend and the continued growth of the pair on Forex. GBP/USD quotes are expected to accelerate with the breakdown of the support area and closing below 1.2695.
GBP/USD forecast Pound Dollar November 29, 2018 involves an attempt to test the resistance area near the level of 1.2815. Where can we expect the continuation of the fall of the currency pair with a potential target near the level of 1.2565. Cancel the option to reduce the pair will breakdown area 1.2905. This will indicate a continued appreciation of the British Pound against the US Dollar.