GBP/USD weekly forecast on October 26 — 30, 2020

Currency pair GBP/USD is trading at 1.3070. 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 upper border of the Bollinger Bands indicator bars.

GBP/USD weekly forecast on October 26 — 30, 2020

As part of the forecast, the Pound/Dollar pair is expected to test the level of 1.2960. 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 1.3380. The conservative buying area for the GBP/USD pair is located near the lower border of the Bollinger Bands indicator strip at 1.2790.

GBP/USD weekly forecast on October 26 — 30, 2020

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 bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 1.2520 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 October 26 — 30, 2020 suggests a test level of 1.2960. Further, growth is expected to continue to the area above the level of 1.3380. The conservative area for buying is located area of ​​1.2790. The cancellation of the growth option for the GBP/USD pair will be the breakdown of the level of 1.2520. In this case, we should expect the fall to continue.


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