GBP/USD weekly forecast on February 17 — 21, 2020

Currency pair GBP/USD is trading at 1.3026. 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 weekly forecast on February 17 — 21, 2020

As part of the forecast, the Pound/Dollar pair is expected to test the level of 1.2890. Where should 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 1.3380. The conservative buying area for the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.2870.

GBP/USD weekly forecast on February 17 — 21, 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 the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​1.2800. 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 strip, growth should be expected.

GBP/USD weekly forecast on February 17 — 21, 2020 suggests a test level of 1.2890. Further, growth is expected to continue to the area above the level of 1.3380. The conservative buying area is located is near the area of ​​1.2870. The cancellation of the growth option for the GBP/USD pair will be the breakdown of the level of 1.2800. In this case, we should expect continued fall.


Best Forex Brokers

Share This Post

Post Comment