GBP/USD forecast for the week May 15 — 19, 2017

Currency pair British Pound to US Dollar GBP/USD completes trading week at 1.2882. The currency pair continues to trade above the moving average with a period of 55, indicating a bullish trend for the pair British Pound to US Dollar. At the moment, quotes of the pair test the average border of the indicator Bollinger Bands. An insignificant fall in the pair’s quotes near the level of 1.2810 is expected, from which one should expect an attempt to continue the growth of the pair’s quotations and further development of the upward trend with the first target near the level of 1.3160.

GBP/USD forecast for the week May 15 — 19, 2017

GBP/USD forecast for the week May 15 — 19, 2017

The conservative GBP/USD buy area is near the lower border of the Bollinger Bands indicator at 1.2690. The cancellation of the option of  continuing the growth of the pair British Pound to US Dollar will be a breakdown of the lower border area of ​​the Bollinger Bands indicator, as well as a moving average with a period of 55 and the closing of the pair’s quotes below the area of ​​1.2530, indicating a change in the bullish trend in favor of the downward trend on the GBP/USD. In the event of a breakdown of the upper boundary of the Bollinger Bands, it is expected to accelerate the growth of quotations of the pair in the area above the level of 1.3160.


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