Currency pair GBP/USD is trading at 1.2810. Quotes of the pair are trading below the moving average with a period of 55. This indicates the presence of a bearish trend for the pair Pound/Dollar. At the moment, pair quotes are moving near the midpoint of the Bollinger Bands indicator bands.
GBP/USD forecast Pound Dollar on November 23, 2018
The Pound Dollar pair is expected to test at 1.2870 in the pound. Where to expect the attempt to continue the fall of the GBP/USD pair and the further development of the downtrend. The purpose of such a movement is the region near the 1.2680 level. The conservative area for selling the pair GBP/USD is located near the upper border of the Bollinger Bands indicator at 1.2880.
Canceling the option to continue the fall of the Pound/Dollar will break the area of the upper boundary of the Bollinger Bands. And also the moving average with period 55 and the closing of quotes pair above 1.2960. This will indicate a change in the current bullish tendency for GBP/USD. In case of breakdown of the lower boundary of the Bollinger Bands, it is expected to accelerate the fall.
GBP/USD forecast Pound Dollar on November 23, 2018 implies a test level of 1.2870. Further, it is expected to continue falling to an area below the 1.2680 level. The conservative sale area is located is near the area of 1.2880. Breakdown of the GBP/USD pair fallback will be a 1.2960 breakthrough. In this case, it is expected to continue growth.
