05.09.2018
GBPUSD
The pair is under pressure and is below 1.2855 not only due to the concerns over Theresa May’s inability to solve the Brexit crisis, but also due to the vocal indicators of slowed economic growth in the country.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is reversing downwards.
Trading recommendations:
The pair is expected to fall to 1.2800 with a prospect of moving further down to 1.2700.
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