Currency pair GBP/USD is trading at 1.4230. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Pound/Dollar. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. A test of the level of 1.4130 is expected, from which we again expect an attempt to continue growth and further develop the upward trend near the level of 1.4430.
GBP/USD forecast Pound Dollar on February 2, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 1.4025. Canceling the option of continuing the growth of the Pound/Dollar pair will be a breakdown of the moving average area with a period of 55, as well as the lower border of the Bollinger Bands indicator bars and the closing of the pair quotes below the 1.3930 area, which indicates a change in the bearish trend for GBP/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.