Currency pair Pound Dollar GBP/USD ends the trading week near the level of 1.3033. The pair continues to trade inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend for the pair Pound/Dollar. A test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.2965. Where should we expect an attempt to rebound and further growth on GBP/USD with a target near the level of 1.3510.
Pound Dollar Forecast GBP/USD April 8 — 12, 2019
An additional signal in favor of raising the GBP/USD currency pair will be a test of the support level. As well as a rebound from the lower boundary of the bullish channel. Earlier, a weak signal was received for SELL the Pound/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.3155.
Cancellation of the growth rate of the pair quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the quotes closing below the 1.2805 area. This will indicate a change in the lateral trend in favor of the downward trend and the continuation of the fall. Expect accelerated growth of the GBP/USD quotes with the breakdown of the resistance area and closing above the level of 1.3255.
Pound Dollar Forecast GBP/USD April 8 — 12, 2019 suggests an attempt to develop a correction to the level of 1.2965. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 1.3510. The test of support area will be in favor of growth. Cancellation option of raising the currency pair will make a breakdown of the area of 1.2805. In this case, we can expect a continuation of the decline.