Currency pair Pound Dollar GBP/USD is trading at 1.3176. The pair continues to move inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend for the pair Pound Dollar. As part of the Pound Dollar Forecast GBP/USD March 7, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.3130. Where can we expect a rebound and continued growth of the currency pair with a target near the level of 1.3405.
Pound Dollar Forecast GBP/USD March 7, 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 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 1.3255.
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 quotations below the 1.3075 area. Such a scenario that indicates a change in the flat trend in favor of the bearish 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 1.3265.
Pound Dollar Forecast GBP/USD March 7, 2019 suggests an attempt to test the support area near the level of 1.3130. Where can we expect to continue the growth of the currency pair with a potential target near the level of 1.3405. The cancellation of the lifting of the pair will be the breakdown of the area 1.3075. This will indicate a continued depreciation of the British Pound against the US Dollar with a potential target of 1.2875.