Currency pair Pound Dollar GBP/USD is trading at 1.3091 and within the framework of the Triangle model formation. The pair continues to move below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the pair Pound Dollar. As part of the British Pound rate forecast for April 12, 2019. The Ichimoku Kinko Hyo Cloud upper test is expected to test near the 1.3115 level. Where can we expect a rebound and the continuation of the fall of the currency pair with a goal near the level of 1.2845.
Pound Dollar Forecast GBP/USD April 12, 2019
An additional signal in favor of the fall in the GBP/USD currency pair will be a rebound from the resistance area. The second signal will be a rebound from the upper limit of the model «Triangle». Previously, a strong signal was received for the sales of the Pound/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.3075.
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 quotations above 1.3175. 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. Expect to accelerate the fall of the GBP/USD quotes with the breakdown of the lower boundary of the model «Triangle» and closing below 1.2965.
Pound Dollar Forecast GBP/USD April 12, 2019 involves an attempt to test the resistance area near the level of 1.3115. Where can we expect the continuation of the fall of the currency pair with a potential target near the level of 1.2845. Cancel the option to reduce the pair will breakdown of the area 1.3175. This will indicate continued growth of the British Pound against the US Dollar with a target at the level of 1.3275.