08.08.2019
GBPUSD
The pair is in the narrow range of 1.2120-1.2210, consolidating in anticipation of Friday’s British GDP data. Weak data could lead to a local decrease.
The price is above the middle Bollinger band, above EMA 5 and SMA 14. RSI is moving around the level of 50% and is not informative. Stoch are growing.
Trading recommendations:
The pair is likely to resume its decline amid weak UK GDP data. In this case, a decrease below 1.2120 may cause the price to drop 1.2045.
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