GBP/USD forecast Pound Dollar on February 12, 2020

Currency pair GBP/USD is trading at 1.2932. 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 quotes of the pair are moving near the middle border of the Bollinger Bands indicator stripes.

GBP/USD forecast Pound Dollar on February 12, 2020

As part of the forecast, the Pound/Dollar pair is expected to test the level of 1.2970. Where can we expect an attempt to continue the fall of the GBP/USD pair and the further development of the downward trend. The purpose of this movement is the area near the level of 1.2790. The conservative sales area for the GBP/USD pair is located near the upper border of the Bollinger Bands indicator strip at 1.2980.

GBP/USD forecast Pound Dollar on February 12, 2020

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 stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​1.3150. This will indicate a change in the current trend in favor of the bullish for GBP/USD. In case of 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 February 12, 2020 implies a test level of 1.2970. Further, it is expected to continue falling to the area below the level of 1.2790. The conservative sale area is located is near the area of ​​1.2980. The cancellation of the fall of the GBP/USD pair will be the breakdown of the level of 1.3150. In this case, we should expect continued growth.


Best Forex Brokers

Share This Post

Post Comment