GBPUSD technical analysis

GBPUSD

The pair broke out of the range of 1.3800–1.4000 on the strong dollar as the inflation in the US is expected to soar above the target of 2.0% as early as this year. However, the pair is expected to recover technically due to its oversold condition before it can resume falling.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI turns up at the border of the oversold zone. Stoch are also starting to turn up in the oversold zone.

GBPUSD rate online: monitor the price movement in real time.

Trading idea:

Sell the pair as it rises above 1.3750 with a probable further drop to 1.3600.