GBPUSD Technical Analysis 19.04.2017

GBPUSD

The pair showed a steep rise, following the unexpected announcement made by Theresa May (British prime minister), who said that she wants to hold the general election on the 8th of June. It provided support to the Pound, as it has been assumed that the Brexit will now be softer, thanks to the May's desire to increase her influence. 

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides in the overbought zone and gradually falling. Stoch are also in the zone and turning downwards.

Trading recommendations:
If the pair falls lower than 1.2800, there is a possibility of the continuation of the fall to 1.2730, and then to 1.2570.