Currency pair GBP/USD is trading at 1.3481. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend for the pair Pound/Dollar. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 1.3560 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 1.3310.
GBP/USD forecast Pound Dollar on May 16, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3630. The abolition of the continuation of the fall of the pair Pound/Dollar will be a breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above the 1.3720 area, indicating a change in the bullish trend for GBP/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.