Currency pair Pound Dollar GBP/USD is trading at 1.3237. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Pound/Dollar pair. Ichimoku Kinko Hyo indicator area signal line test near the level 1.3315 is expected, from which it is expected to attempt a fall with the target near the level of 1.3070.
Pound Dollar forecast GBP/USD on October 5, 2017
An additional signal in favor of falling quotations of the pair will be a resistance level test. Earlier, a weak signal was received for the sell of the Pound/Dollar pair, due to the crossing of the signal lines at 1.3540. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1.3430, indicating a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in GBP/USD quotations with a breakdown of 1.3200 level.