GBPUSD Technical analysis 04.08.17

GBPUSD

The pair dropped considerably following the outcome of the Bank of England meeting that didn't show any real intention on the regulator's side to raise the interest rates as had been promised earlier. The general tone of the central bank's resolution and the statements made by its head Mark Carney is riddled with various concerns about the ramifications of Brexit and the future state of British economy.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is just below 50% level and moves horizontally. Stoch are leaving the oversold zone.

Trading recommendations:

The positive US employment data may lead to the price's local decrease down to 1.3090 and then to 1.3035.