Currency pair GBP/USD is trading at 1.2947. 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 move near the upper border of the Bollinger Bands indicator bars. A test of level 1.3120 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 1.2170.
GBP/USD weekly forecast on September 10 — 14, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3130. The abolition of the continuation of the fall of the pair Pound/Dollar will be a breakdown of the upper border 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 1.3500 area, 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.