GBP/USD forecast Pound Dollar on June 5, 2020

Currency pair GBP/USD is trading at 1.2524. 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 quotes of the pair are moving near the middle border of the Bollinger Bands indicator stripes.

GBP/USD forecast Pound Dollar on June 5, 2020

As part of the forecast, the pair Pound/Dollar is expected to test the level of 1.2440. Where can we expect an attempt 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 1.2770. The conservative buying area for the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.2420.

GBP/USD forecast Pound Dollar on June 5, 2020

Cancellation of the option to continue the growth of the Pound/Dollar pair will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​1.2210. This will indicate a change in the current trend in favor of the bearish for GBP/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, growth should be expected.

GBP/USD forecast Pound Dollar on June 5, 2020 implies a test level of 1.2440. Further, growth is expected to continue to the area above the level of 1.2770. The conservative buying area is located is near the area of ​​1.2420. The cancellation of the growth option for the GBP/USD pair will be the breakdown of the level of 1.2210. In this case, we should expect continued fall.


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