GBPUSD Technical analysis 03.08.17

GBPUSD

The pair is above 1.3195 support level as the results of the Bank of England interest rate meeting are expected to be released. We think that the rates are going to maintain the current level because the inflationary pressure is decreasing.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought zone and moves horizontally. Stoch are falling.

Trading recommendations:

If the pair drops below 1.3195 level after the United Kingdom central bank meeting results are revealed it may lead to its further falling down to 1.3150 or 1.3090.