Currency pair Pound GBP/USD is trading at 1.2555. The pair continues to move above the moving average with a period of 55, indicating a bullish trend for the Pound Dollar. At the moment, quotes of the pair move between the middle and upper border of the Bollinger Bands indicator bars. One should expect an attempt to drop and test the lower border of the bands near the level of 1.2468, where again we should expect an attempt to continue growth with the first target near the level of 1.2600.
Bollinger Bands forecast GBP/USD on March 29, 2017
The conservative shopping area is near the lower border of the Bollinger Bands indicator strip at 1.2450. Canceling the option of continuing the growth of the Pound The US dollar will be a breakdown of the lower boundary area, as well as the moving average and the closing of the pair’s quotes below the area of 1.2400, indicating a change in the bearish trend for GBP/USD. In the event of a breakdown of the upper boundary of the indicator strip, it is expected to accelerate the growth of the pair to an area above the level of 1.2600.
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