Technical analysis 21.06.18

GBPUSD

The pair is trading below 1.3145 as the outcome of the Bank of England monetary policy meeting is expected to be revealed today. The interest rates and the volume of assets buyout will most likely stay on the previous levels, while the regulator may indicate that the interest rates raise shouldn’t be expected in any foreseeable future. Due to this, the pair may continue falling.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone. Stoch are entering the zone.

Trading recommendations:

The pair may fall down to 1.3025 following the outcome of the Bank of England meeting.