GBPUSD Technical analysis 11.10.17

GBPUSD

The pair has recovered as the USD is weakened because of profit taking before this Friday's release of important consumer inflation data in the US. Technically, the pair corrected quite well after the drop and may resume falling if the US data doesn't disappoint.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI's growth has slowed down. Stoch are reversing downwards.

Trading recommendations:

If the pair remains below 1.3200, we recommend selling it with a possible target of 1.3020 and a possibility of growing further down to 1.2935.

Author: Semyon Kamensky