19.02.2020
The pair consolidates above 1.2985 in anticipation of the UK consumer inflation data. The pair will continue falling if the indicators are worse than predicted. At the same time, if the data is above the expected values, the pair will receive significant support.
The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is below the 50% level and moves horizontally. Stoch are below the 50% level and indicates a weakening of the price decline.
Trading recommendations:
Make a decision based on the released data.The price can turn up and surge to 1.3070 in case of positive news. In the opposite scenario, there is a high probability of a drop to 1.2920.
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