Currency pair GBP/USD is trading at 1.1197. 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 pair’s quotes are moving near the upper border of the Bollinger Bands indicator bands.
GBP/USD forecast Pound Dollar on October 4, 2022
As part of the forecast for the Pound/Dollar pair, a test of the level of 1.1070 is expected. Where should we expect an attempt to continue the growth of the GBP/USD pair and further development of the upward trend. The target of this movement is the area near the level of 1.1560. The conservative area for buying the GBP/USD pair is located near the lower border of the Bollinger Bands indicator at the level of 1.0650.
Cancellation of the option to continue the growth of the Pound/Dollar pair will be a breakdown of the area of the lower 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 below the 1.0510 area. This will indicate a change in the current trend in favor of the bearish for GBP/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of growth.
GBP/USD forecast Pound Dollar on October 4, 2022 implies a test level of 1.1070. Further growth is expected to continue to the area above the level of 1.1560. The conservative area for buying is located area of 1.0650. Cancellation of the growth option for the GBP/USD pair will be a breakdown of the level of 1.0510. In this case, we should expect the continuation of the fall.
