16.03.2020
The pair is under extreme pressure due to the Brexit-related economic problems. Expected rate cuts by the Bank of England will lead to further drop of the pair. The US dollar is in demand as a safe haven in times of crisis.
The price is below the middle Bollinger band, at the level of SMA 5, but below SMA 14. RSI is in the oversold zone and moves horizontally. Stoch are also in this zone and are turning up.
Trading recommendations:
Sell the pair with a probable target of 1.2190.
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