18.05.2020
The pair will continue to decline after the upward correction. It’s caused by the renewed Brexit tensions that had temporarily subsided due to the coronavirus pandemic. The issues that remain unresolved will put pressure on the pair in the short term amid the pandemic-stricken economy.
Technical side:
The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is coming out of the oversold zone. Stoch are also reversing in this zone.
Trading recommendations:
A pullback up to 1.2160 is possible. If it does not rise above this level, it will begin to decline again and will plummet towards the target level of 1.1000.
GBPUSD rate online: monitor the movement of the pair in real time.
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