Technical analysis 19.10.18

GBPUSD

The pair is trading above 1.3015 against the background of the failed Brexit talks. Considering that a number of the world’s most important economic indicators are showing decline, the pair may resume local fall.

The price is below the middle Bollinger band, on the level of SMA 5, but below SMA14. RSI is above the oversold territory and is moving horizontally. Stoch are in the oversold zone.

Trading recommendations:

Sell the pair after is passes 1.3015 with a possible further drop to 1.2920.