Currency pair GBP/USD is trading at 1.3187. Quotes of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish 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 1.3060 is expected, where again we should expect an attempt to continue growth and further development of the upward trend near the level of 1.3710.
GBP/USD weekly forecast on September 24 — 28, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 1.2780. Canceling the option of continuing the growth of the pair Pound/Dollar will be a breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of the pair quotes below the 1.2650 area, indicating a change in the bearish trend for GBP/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.