Currency pair Pound to US Dollar GBP/USD is trading at 1.2671. 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 bands of the indicator Bollinger Bands. It is worth to expect an attempt at a minor correction near the level of 1.2710, where again we should expect an attempt to continue falling with the first target near the level of 1.2520.
British Pound GBP/USD forecast on June 22, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.2810. The abolition of the continuation of the fall of the Pound/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 area of 1.2890, which will indicate a change in the trend in favor of the bullish on the GBP/USD. In the event of a breakdown of the lower boundary of the indicator strip, we expect an acceleration of the fall of the pair into the area below the level of 1.2580.
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