Currency pair GBP/USD is trading at 1.2830. Quotes of the pair are trading below the moving average with a period of 55, which indicates the presence of a bearish trend for the pair Pound/Dollar. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bands. The test is expected to level 1.2885, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 1.2720.
GBP/USD forecast Pound Dollar on October 29, 2018
The conservative sales area is located near the upper border of the Bollinger Bands indicator bars at 1.3010. Cancellation of the option to continue the fall of the pound pair US dollar will break the area of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and close the pair quotes above 1.3100, indicating a change in trend in favor of bullish for GBP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.