Currency pair GBP/USD is trading at 1.3101. Quotes of the pair are trading below 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 bands.
GBP/USD forecast Pound Dollar on April 16, 2019
As part of the forecast of the pair Pound/Dollar is expected to test the level of 1.3080. Where can we expect to try 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 1.3210. The conservative area for buying of the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.3050.
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 bands. As well as a moving average with a period of 55 and closing quotes pair below 1.3000 area. This will indicate a change in the current trend in favor of the bearish for 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 April 16, 2019 suggests a test level of 1.3080. Further, growth is expected to continue to the region above level 1.3210. The conservative buying area is located is near the area of 1.3050. Cancellation of the growth of the pair GBP/USD will make the breakdown level of 1.3000. In this case, we should expect the continuation of the fall.