Currency pair Pound Dollar GBP/USD is trading at 1.3079. 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 Pound Dollar Forecast GBP/USD March 11, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.3145. Where can we expect a rebound and the continuation of the fall of the currency pair with a goal near the level of 1.2815.
Pound Dollar Forecast GBP/USD March 11, 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 the test of the lower boundary of the ascending 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 1.3255.
Canceling the option of reducing quotes of the GBP/USD pair will be the breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 1.3235. 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 is expected to accelerate the fall in quotes with the breakdown of the support area and closing below 1.3015.
Pound Dollar Forecast GBP/USD March 11, 2019 involves an attempt to test the resistance area near the level of 1.3145. Where can we expect the continuation of the fall of the currency pair with a potential target near the level of 1.2815. Cancel the option to reduce the pair will breakdown of 1.3235 area. This will indicate a continuation of the rise of the British Pound against the US Dollar with a target at the level of 1.3375.