Currency pair GBP/USD is trading at 1.2025. 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, the pair’s quotes are moving near the lower border of the Bollinger Bands indicator bands.
GBP/USD forecast Pound Dollar on August 19, 2022
As part of the forecast for the Pound/Dollar pair, a test of the level of 1.2070 is expected. Where should we expect an attempt to continue the fall of the GBP/USD pair and further development of the downward trend. The target of this movement is the area near the level of 1.1950. The conservative area for selling the GBP/USD pair is located near the upper border of the Bollinger Bands indicator at the level of 1.2130.
Cancellation of the option to continue the fall of the Pound/Dollar pair will be a breakdown of the area of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the pair’s quotes above the area of 1.2320. This will indicate a change in the current trend in favor of the bullish for GBP/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
GBP/USD forecast Pound Dollar on August 19, 2022 implies a test level of 1.2070 Further, it is expected to continue falling to the area below the level of 1.1950. The conservative selling area is located area of 1.2130. Cancellation of the GBP/USD pair fall option will be a breakdown of the level of 1.2320. In this case, we should expect continued growth.
