Currency pair GBP/USD is trading at 1.3799. 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 Pound/Dollar. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 1.3690 is expected, where again we should expect an attempt to continue growth and further development of the upward trend near the level of 1.4220.
GBP/USD weekly forecast on March 5 — 9, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 1.3680. 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 1.3560 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.