Currency pair British Pound to US Dollar GBP/USD is trading at 1.3019. 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 pair British Pound to US Dollar GBP/USD. At the moment, the pair’s quotes are moving near the middle border of the Bollinger Bands indicator. A correction to the moving average near the level of 1.2970 is expected, where again we should expect an attempt to continue growth with the first target near the level 1.3120.
Bollinger Bands prediction GBP/USD on May 23, 2017
An additional signal in favor of growth is the support area test. The conservative buy area is near the lower border of the Bollinger Bands indicator strip at 1.2930. Canceling the option of continuing the growth of the pair British Pound to US Dollar GBP/USD 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 and the closing of the pair’s quotes below the area of 1.2860, indicating a change in the bearish trend for GBP/USD. In the event of a breakdown of the upper boundary of the Bollinger Bands, it is expected to accelerate the growth of the pair to an area above 1.3120.
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