The currency pair British Pound to US Dollar GBP/USD is trading at 1.2430. 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 test the average border of the bars of the indicator Bollinger Bands. It is worth to expect an attempt at a minor correction near the level of 1.2450, where again we should expect an attempt to continue the fall with the first target near the level of 1.2340.
Bollinger Bands GBP/USD forecast April 12, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.2480. The abolition of the continuation of the fall of the Pound to US dollar will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotations above the 1.2540 area, indicating a change in the bullish trend for GBP/USD. In the event of a breakdown of the lower border of the indicator strip, we expect to accelerate the fall of the pair into the area below the level of 1.2340.
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