Currency pair GBP/USD is trading at 1.3200. 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, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. A test of the level of 1.3240 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 1.3030.
GBP/USD forecast Pound Dollar on October 20, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3290. Cancellation option to continue falling pair Pound/Dollar will breakdown region of the upper Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above the area of 1.3330, 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.