Currency pair British Pound to US Dollar GBP/USD is trading at 1.2882. The pair broke through Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a downward trend in the pair British Pound to US Dollar. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 1.2900, from which one should expect an attempt to fall and develop a bearish tendency for the pair to fall near the level of 1.2740.
GBP/USD forecast Pound to US Dollar on May 16, 2017
Earlier, a weak signal was received for the sale of the pair British Pound to US Dollar GBP/USD, due to the crossing of the signal lines at the level of 1.2919. 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 1.2950, which indicates a change in the downtrend in favor of the uptrend. Expect the acceleration of the fall in quotations GBP/USD is with the breakdown of the local minimum area at 1.2720.