Currency pair Pound Dollar GBP/USD ends the trading week near the level of 1.3253. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend in the pair Pound/Dollar. The test of the Ichimoku Kinko Hyo signal line region is expected near the level of 1.3045. Where can we expect an attempt to rebound and further growth on GBP/USD with a target near the level of 1.3575.
Pound Dollar Forecast GBP/USD March 4 — 8, 2019
An additional signal in favor of raising the GBP/USD currency pair will be the support level test. As well as a rebound from the lower boundary of the rising channel. Earlier, a strong signal was received for BUY the Pound/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.3025.
Cancellation of the growth of quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1.2765. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall. GBP/USD is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 1.3145.
Pound Dollar Forecast GBP/USD March 4 — 8, 2019 suggests an attempt to develop a correction to the level of 1.3045. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 1.3575. The test of support area will be in favor of growth. Cancellation of the option of raising the currency pair will be a breakdown of the area of 1.2765. In this case, we can expect a continuation of the decline.