Technical analysis 30.07.2019

GBPUSD

The pair continues dropping vertically because of high risk of no-deal Brexit, which will lead to the beginning of a recession in the country. If the situation remains the same, the pair will be put under pressure even after the Fed's decision to lower interest rates.

The price is below middle Bollinger band, below the SMA 5 and SMA 14. RSI is in the oversold area. Stoch are also in this zone and make an attempt to turn upwards.

Trading recommendations:

The pair may correct up to 1.2210 due to the Fed's decision on interest rates. But if it does not go above the level of 1.2210 or even drops below the level of 1.2115, then will continuye further down to 1.1980.