EURGBP Technical analysis 13.09.17

EURGBP

The price has reached the local target of 0.9000 as the released consumer inflation data in the United Kingdom turned out to be strong, which reinforced the expectations of the Bank of England raising the interest rates on the September meeting. If today's figures on the employment and average pay also display a significant growth, the pair is likely to continue falling.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone. Stoch have left the oversold territory, but their growth is apparently weakening.

Trading recommendations:

If the price falls below 0.9000 level, it's likely to go further down to 0.8885.