Currency pair GBP/USD is trading at 1.2808. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for the pair Pound/Dollar. At the moment, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars.
GBP/USD forecast Pound Dollar on December 5, 2018
As part of the forecast, the pair Pound/Dollar is expected to test the level of 1.2760. Where can we expect the attempt to continue the growth of the GBP/USD pair and the further development of the upward trend. The purpose of this movement is the area near the level of 1.2930. The conservative buying area for the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.2710.
Cancellation of the option to continue the growth of the pair Pound/Dollar will be the breakdown of the area of the lower border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 1.2650 area. This will indicate a change in the current trend in favor of the bearish on GBP/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
GBP/USD forecast Pound Dollar on December 5, 2018 suggests a test level of 1.2760. Further growth is expected to continue to the area above the level of 1.2930. The conservative buying area is located is near the area of 1.2710. The cancellation of the growth option of the GBP/USD pair will be the breakdown of the level of 1.2650. In this case, we should expect the continuation of the fall.