Currency pair GBP/USD is trading at 1.1853. 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 upper border of the Bollinger Bands indicator bands.
GBP/USD forecast Pound Dollar on August 26, 2022
As part of the forecast for the Pound/Dollar pair, a test of the level of 1.1910 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 1.1700. The conservative area for selling the GBP/USD pair is located near the upper border of the Bollinger Bands indicator bands at the level of 1.1920.
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 1.1960. 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 26, 2022 implies a test level of 1.1910. Further, a continuation of the fall to the area below the level of 1.1700 is expected. The conservative selling area is located area of 1.1920. Cancellation of the GBP/USD pair fall option will be a breakdown of the level of 1.1960. In this case, we should expect continued growth.
