Currency pair Pound Dollar GBP/USD is trading at 1.3272. The pair continues to move above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend in the pair Pound/Dollar. As part of the Pound Dollar Forecast GBP/USD March 1, 2019. A test of the area of Ichimoku Kinko Hyo signal lines is expected near the level of 1.3210. Where can we expect a rebound and continued growth of the currency pair with a goal near the level of 1.3455.
Pound Dollar Forecast GBP/USD March 1, 2019
An additional signal in favor of raising the GBP/USD currency pair will be a rebound from the support area. The second signal will be the test of the lower boundary of the ascending channel. Earlier, a strong signal was received for BUY the Pound/Dollar pair. The signal was formed due to the crossing of signal lines at the level of 1.2915.
Cancellation of the growth option of the GBP/USD pair quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 1.2935 area. Such a scenario that indicates a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair on Forex. Expect acceleration of growth of the GBP/USD quotes with the breakdown of the resistance area and closing above the level of 1.3375.
Pound Dollar Forecast GBP/USD March 1, 2019 implies an attempt to test the support area near the level of 1.3210. Where can we expect to continue the growth of the currency pair with a potential target near the level of 1.3455. The cancellation of the lifting of the pair will be the breakdown of the area of 1.2935. This will indicate a continued depreciation of the British Pound against the US Dollar with a potential target of 1.2855.