Market analysis for the GbpUsd pair with the Bollinger Bands Indicator on Sunday, August 16, 2026 The pound sterling responded to the weakening of the US dollar after the release of PPI data and made trading in the GbpUsd pair return to the grip of the buyers, who successfully dominated by continuously pushing the price higher in a bullish move and suppressing the bearish attempts of the sellers above the buyers’ support area at 1.3481-1.3482, which the selling pressure failed to break, allowing the buyers to control the price strongly to the upside.
Monitored using the Bollinger Bands indicator on the Daily timeframe, it can be seen that the price or candlestick of the GbpUsd pair has been strongly controlled by the buyers, who are able to dominate the market by keeping the price above the Middle Bollinger Band located at 1.3424, supported by the formation of a very strong bullish engulfing candlestick, indicating that the GbpUsd pair can still strengthen further in a bullish move, targeting a rise to reach and test the Upper Bollinger Band located at 1.3572. If this level is successfully broken out strongly, then the GbpUsd pair price will soar even higher with a target towards the nearest seller supply resistance area. Trading in the GbpUsd pair on Monday is very likely to remain under the control of the buyers, who are able to maintain their advantage, and buyers will continue to push the price higher with a target towards the nearest seller resistance area located at 1.3565-1.3566. However, if sellers are able to defend their nearest resistance area from bearish pressure, then the price may weaken again in a bearish move with a target towards the nearest buyer support area located at 1.3482-1.3481. Bullish pressure is still very strong, so buy options remain very favorable and pending orders can be placed as follows: A sell entry is taken if the sellers manage to break below the nearest buyer support area located at 1.3482-1.3481, with the TP target area at 1.3436-1.3436. A buy entry can be taken if the buyers manage to break above the nearest seller resistance area located at 1.3565-1.3566, with the TP target area at 1.3605-1.3606.
