Currency pair GBP/USD is trading at 1.2967. 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 pair Pound/Dollar. At the moment, the quotes of the pair move near the upper border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 1.2790, where again we should expect an attempt to continue growth and further development of the upward trend near the level of 1.3320.
GBP/USD weekly forecast on July 31 – August 4, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 1.2560. 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 border of the Bollinger Bands indicator bars and the closing of the pair’s quotes below the area of 1.2450, 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.