GBPUSD Technical Analysis 19.07.2017

GBPUSD

The pair is consolidating above the 1.3025 level after the recent fall, that followed the release of a worse-that-expected data on consumer inflation in Britain. At the moment the pair may rise or fall amid the overall uncertainty prior the Bank of England meeting, which is scheduled for the next week.

The price is lower than the middle Bollinger band, at the SMA 5 level, but lower than SMA14. RSI resides above the 50% level and moving horizontally. Stoch are also rising.

 
Trading recommendations:

If the pair braches the 1.3025 support level, there is a possibility that it continues falling to 1.2970. But at the same time, there is a possibility of continuation of the local rise to 1.3100-10 prior to the Bank of England meeting.