08.07.2020
The pair is trading above the support level of 1.2535. It’s also supported by the hopes for Brexit resolution. However, the pair may decline if the market sentiment turns negative again.
Technical side:
The price is above the middle Bollinger indicator, above SMA 5 and SMA 14. RSI is located under the overbought zone and moves horizontally. Stoch is not informative.
GBPUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the price doesn’t consolidate above 1.2535, it may drop back to 1.2455.
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