The currency pair Euro Pound EUR/GBP is trading at 0.8535. The pair continues to trade below the moving average with a period of 55, indicating a bearish trend for the Euro Pound. At the moment, quotes of the pair move between the lower and middle boundaries of the bands of the indicator Bollinger Bands. It is worth to wait for the attempt of growth and the test of the middle border of the Bollinger Bands indicator bars near the level of 0.8560, where again we should expect an attempt to continue the decline with the first target near the level of 0.8470.
Bollinger Bands EUR/GBP Forecast on April 7, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 0.8580. The abolition of the continuation of the fall of the Euro Pound will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the area of 0.8610, indicating a change in the bullish trend for EUR/GBP. In the event of a breakdown of the lower border of the indicator strip, it is expected to accelerate the fall of the pair into the area below the level of 0.8470.
