Currency pair GBP/USD is trading at 1.3845. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend for the Pound/Dollar. At the moment, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A test of the level of 1.3900 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 1.3690.
GBP/USD forecast Pound Dollar on March 12, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3940. The abolition of the continuation of the fall of the Pound/Dollar pair will be a breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotes above the 1.4010 area, which indicates 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.