GBPUSD Technical analysis 08.08.17

GBPUSD

The pair is trading above 1.3020 level. The pair is under pressure against the backdrop of the falling expectations of the Bank of England raising the interest rates this year, and also of the possibly positive data on the US inflation that is to be released towards the end of the week.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above 50% and is reversing downwards. Stoch show the weakening growth.

Trading recommendations:

If the pair falls below 1.3020 level, it may resume its falling down to 1.2990 and then to 1.2950.