Currency pair GBP/USD is trading at 1.3056. 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 pair quotes are moving near the middle border of the Bollinger Bands indicator bars. A test of the level 1.3230 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 1.2560.
GBP/USD weekly forecast on October 1 — 5, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3280. Cancellation of the option to continue the fall of the pound pair Pound/Dollar will be the breakdown of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair quotes above 1.3500, 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.