Currency pair Pound Dollar GBP/USD ends the trading week near the level of 1.2956. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in the Pound Dollar pair. A test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.3015, from where it is worth expecting an attempt to rebound and a further drop in GBP/USD with a target near the level of 1.2525.
Pound Dollar forecast GBP/USD November 5 — 9, 2018
An additional signal in favor of the fall in the GBP/USD currency pair will be a test of the resistance level, as well as a rebound from the upper limit of the downward channel. Earlier, a weak signal was received for SELL the Pound/Dollar pair, due to the crossing of signal lines at the level of 1.3080.
Cancellation of the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.3155 area, which will indicate a change in the downward trend in favor of an upward trend and continued growth. GBP/USD quotes are expected to accelerate with the breakdown of the support area and closing below 1.2750.
Pound Dollar forecast GBP/USD November 5 — 9, 2018 suggests an attempt to develop a correction to the level of 1.3015, where a rebound can be expected and the pair will continue to fall with a potential target near the level of 1.2525, the test of the resistance area will cancel, which will cancel the currency pair will break down the area of 1.3155, in this case we should expect continued growth.