Currency pair GBP/USD is trading at 1.3820. 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 upper boundary of the Bollinger Bands indicator bands.
GBP/USD forecast Pound Dollar on October 20, 2021
As part of the forecast, the pound dollar is expected to test 1.3760. Where to expect an attempt to continue the growth of the GBP/USD pair and the further development of the upward trend. The purpose of such a movement is the area near the level of 1.3910. The conservative buying area of the GBP/USD pair is located near the bottom boundary of the Bollinger Bands indicator lanes at 1.3660.
Cancellation of the continuation of the growth of a pound of a pound dollar will be a breakdown area of the bottom limit of the Bollinger Bands indicator stripes. And also a moving average with a period of 55 and the closure of the pair quotes below the area of 1.3530. This will indicate a change in the current trend in favor of the bearish on GBP/USD. In the event of a breakdown of the top border, the Bollinger Bands indicator strips should expect growth acceleration.
GBP/USD forecast Pound Dollar on October 20, 2021 implies a test level of 1.3760. Further, growth is expected to continue to the area above the level of 1.3910. The conservative area for buying is located area of 1.3660. The cancellation of the growth option for the GBP/USD pair will be the breakdown of the level of 1.3530. In this case, we should expect a continuation of the fall.