GBPUSD Technical Analysis 15.06.2017

GBPUSD

The pair is trading under the 1.2800 level prior to the release of the Bank of England monetary policy meeting results. We expect that the interest rate remains unchanged while the Bank is unlikely to announce changes in the current monetary policy in the nearest future.

The price is higher than the middle Bollinger band, lower than SМА 5, but higher than SMA 14. RSI resides under the 50% level and gradually falling. Stoch are falling.   

Trading recommendations:
We assume that if the Bank of England doesn't give any hopes for the change in the monetary policy in the nearest future, the pair will be falling, reaching first 1.2700, and then 1.2595, which will equal 38% and 50% Fibonacci retracement.