Currency pair GBP/USD is trading at 1.3566. 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 the level of 1.3700 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 1.3210.
GBP/USD weekly forecast on May 14 — 18, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 1.3820. The abolition of the continuation of the fall of the pair Pound/Dollar will be a breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of the pair quotes above 1.4060, 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.