Currency pair Pound Dollar GBP/USD is trading at 1.2479 and continues to move as part of the development of a decline and a bearish channel. The pair is trading below the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bearish trend for the Pound/Dollar pair. As part of the Forex exchange rate forecast for the British Pound for today, September 15, 2023. A test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator is expected near the level of 1.2530. Where can we expect a downward rebound and a continuation of the fall of the currency pair on the Forex market with a potential target near the level of 1.2285.
Pound Dollar Forecast GBP/USD for September 15, 2023
An additional signal in favor of a fall in the GBP/USD currency pair on Forex will be a rebound from the upper boundary of the downward channel. The second signal in favor of this scenario on Forex will be a rebound from the resistance area on the price chart. Previously, a signal of medium strength was received for sales of the Pound/Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.2625. The nearest resistance area for the Pound/Dollar pair is located at 1.2585. The nearest support area for the GBP/USD pair is located near the 1.2415 area.
Cancellation of the option of falling quotes for the GBP/USD currency pair on Forex will be a strong increase in the price of the British Pound against the US Dollar on Forex and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with closing quotes above the 1.2635 area. Such a scenario would indicate a change in the bearish trend in favor of a bullish trend and continued growth of the currency pair on FOREX with a target above the level of 1.2785. Expect an acceleration in the fall of GBP/USD quotes with a breakdown of the support area by closing prices below the level of 1.2395.
Pound Dollar Forecast GBP/USD for September 15, 2023 suggests an attempt to test the resistance area near the 1.2530 level. Where can we expect the currency pair to continue to fall with a potential target near the level of 1.2285. Cancellation of the option to reduce the pair will be a strong growth and a breakdown of the 1.2635 area. This will indicate a continued rise in the British Pound against the US Dollar with a target at 1.2785.
