Currency pair GBP/USD is trading at 1.3083. 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 quotes are moving near the middle border of the Bollinger Bands indicator bars.
GBP/USD weekly forecast on March 11 — 15, 2019
As part of the forecast, the pair Pound/Dollar is expected to test the level of 1.2990. Where can we expect an attempt to continue the growth of the pair GBP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 1.3440. The conservative buying area for the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.2770.
Cancellation of the option to continue the growth of the pair Pound/Dollar will be the breakdown of the area of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below 1.2690 area. This will indicate a change in the current trend in favor of the bearish for GBP/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
GBP/USD weekly forecast on March 11 — 15, 2019 suggests a test level of 1.2990. Further growth is expected to continue to the area above the level of 1.3440. The conservative buying area is located is near the area of 1.2770. Cancellations of the growth of the pair GBP/USD will breakdown level 1.2690. In this case, we should expect the continuation of the fall.