GBPUSD Technical Analysis 20.04.2017

GBPUSD

The pair is traded around the 1.2800 level amid the investors' positive attitude towards the decision of the British Government to hold an early general election. The pair still has a potential to rise, but it seems like it will be limited. 

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 leaving the oversold zone.

Trading recommendations:
Our prognosis mainly remains unchanged. If the pair falls lower than 1.2800 level, there is a possibility of it falling to 1.2730, and then to 1.2570.