Forex: technical overview 22.03.18

GBPUSD

The pair receives support as the EU summit is expected to solve a number of Brexit problems. It’s safe to assume that if the summit’s outcome proves positive, while the Bank of England meeting hints at another interest rates increase, the pair will continue growing. However, unfavorable news would lead to a correction of the price.

The pair is above the middle border of Bollinger bands, above EMA 5 and EMA 13. RSI is in the overbought zone. Stoch are already there.

Trading recommendations:

If the price falls below 1.4150, it may go further down to 1.4065 in case of unfavorable news. On the other hand, positive news would push the pair upwards to 1.4265.