Forex Forecast for Pound Dollar for June 2, 2021
The Pound Dollar GBP/USD currency pair is trading at 1.4174. The pair's quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for the Pound-Dollar pair. At the moment, the pair's quotes are moving near the average border of the bands of the Bollinger Bands indicator.
Within the forecast of the Pound-Dollar pair, a test of the level of 1.4140 is expected. Where should we expect an attempt to continue the growth of the GBP/USD pair and further develop the upward trend? The target of this movement is the area near the level of 1.4290. The conservative area for buying the GBP/USD pair is located near the lower border of the Bollinger Bands indicator at 1.4140.
Forex forecast Pound Dollar for June 2, 2021
The cancellation of the option to continue the growth of the Pound Dollar pair will be a breakdown of the lower border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes below the area of 1.3950. This will indicate a change in the current trend in favor of a bearish one for GBP/USD. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration of growth.
The forex forecast for the Pound Dollar on June 2, 2021 suggests a test of the level of 1.4140. Further growth is expected to continue in the area above the level of 1.4290. The conservative buy zone is located near the 1.4140 area. The cancellation of the growth option of the GBP/USD pair will be the breakdown of the 1.3950 level. In this case, we should expect the fall to continue.