The Pound Dollar GBP/USD pair is trading at 1.4156 and continues to move within the growth and ascending channel. The pair is trading above the upper limit of the Ichimoku Kinko Hyo indicator Cloud. This indicates the presence of a bullish trend for the Pound-Dollar pair. As part of the Forex forecast of the British Pound exchange rate for today, April 6, 2021. The upper border of the Ichimoku Kinko Hyo Indicator Cloud is expected to test near the 1.4125 level. Where to expect a rebound and continued growth of the currency pair with a target near the level of 1.4395.
Pound Dollar GBP/USD Forex forecast for May 25, 2021
An additional signal in favor of the rise of the GBP/USD currency pair on Forex will be a rebound from the support area. The second signal will be a rebound from the lower border of the ascending channel. Earlier, a strong signal was received for purchases of the Pound Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.4135.
Pound Dollar GBP/USD Forex forecast for May 25, 2021
The cancellation of the growth option for the GBP/USD currency pair on Forex will be the fall in the price of British Pound against US Dollar on Forex and the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 1.3985 area. Such a scenario will indicate a change in the bullish trend in favor of the bearish trend and the continuation of the fall of the currency pair on FOREX. Expect an acceleration in the growth of GBP/USD quotes with a breakdown of the resistance area and a close above the level of 1.4275.
Thus, the GBP/USD forecast for May 25, 2021 suggests an attempt to test the support area near the level of 1.4125. Where should we expect the currency pair to continue to grow with a potential target near the level of 1.4395. The cancellation of the pair's rise option will be a fall and a breakdown of the 1.3985 area. This will indicate a continued decline in the British Pound against the US Dollar with a target at 1.3595.