Currency pair GBP/USD is trading at trading at 1.2958. 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 quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 1.3030 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 1.22850.
GBP/USD forecast Pound Dollar on October 3, 2018
The conservative sales area is located near the upper border of the Bollinger Bands indicator bars at 1.3140. Cancellation of the option to continue the fall of the pound pair Pound/Dollar will be a breakdown of the upper border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of the pair quotes above 1.3200, 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.