Technical Analysis 12.03.2019

GBPUSD

The pair is above 1.3185. If Theresa May’s Brexit talks in Strasbourg don’t bring fruit, while the British Parliament once again rejects the Prime Minister’s deal, the GBP may be put under the local pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the level of 50% and is indicating weaker growth. Stoch are reversing downwards and leaving the overbought territory.

Trading recommendations:

If the pair drops below 1.3185 against the background of negative sentiment, it may go further down to 1.2955.