Currency pair Pound Dollar GBP/USD is trading at 1.3044. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend in the Pound/Dollar pair. As part of the GBP/USD forecast Pound Dollar November 6, 2018, a test of the Ichimoku Kinko Hyo signal lines area is expected near the 1.2940 level. Where should we expect an attempt to rebound and continue the growth of the currency pair with a target near the level of 1.3275.
GBP/USD forecast Pound Dollar November 6, 2018
An additional signal in favor of the growth of the GBP/USD currency pair will be a rebound from the support area, as well as a test of the lower boundary of the upward channel. Earlier, a weak signal was received for BUY the Pound/Dollar pair, due to the intersection of signal lines at the level of 1.2765.
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 area of 1.2830. Such a scenario that indicates a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair on Forex. Expect confirmation of growth of GBP/USD quotes with the breakdown of the upper boundary of the downward channel and closing above the level of 1.3110.
GBP/USD forecast Pound Dollar November 6, 2018 implies an attempt to test the support area near the level of 1.2940, where we can expect the growth of the currency pair with a potential target near the level of 1.3275. The cancellation of the growth of the pair will be the breakdown of the area of 1.2830, which will indicate the continuation of the fall of the British Pound against the US Dollar.