Currency pair GBP/USD is trading at 1.4062. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Pound/Dollar. At the moment, quotes of the pair move near the middle border of the bands of the Bollinger Bands indicator. A test of level 1.4610 is expected, where again we should expect an attempt to continue growth and further development of the upward trend near the level of 1.4590.
GBP/USD weekly forecast on February 19 — 23, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 1.3780. Canceling the option of continuing the growth of the pair Pound/Dollar will be a breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of the pair quotes below the 1.3510 area, indicating 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.
