Currency pair GBP/USD is trading at 1.3034. Quotes of the pair are trading 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 are moving near the lower border of the bands of the Bollinger Bands indicator. An insignificant correction is expected near the level of 1.3090, where we can expect an attempt to continue the fall and further development of the downward trend with the target near the level of 1.2900.
GBP/USD forecast Pound Dollar on August 7, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3292. The abolition of the continuation of the fall of the Pound pair of Pound/Dollar will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair’s quotes above the 1.3350 area, which indicates a change in the trend in favor of the bullish on the 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.