14.05.2020
The pair fell below 1.22000, where it has been since March 27. It’s starting to get affected negatively by the unexpectedly resurfaced Brexit, which has been overshadowed by the pandemic for a time. A set of circumstances negative for the UK may have a significant long-term negative influence on the British currency.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and continues to decline. Stoch are in the oversold zone.
Trading recommendations:
If the pair corrects below 1.2200, it will continue to form the double top pattern with a likely drop first to 1.200, and then to 1.1900.
GBPUSD rate online: monitor the movement of the pair in real time.
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