11.09.2020
The pair broke out of a short-term uptrend amid the growing concerns in the market that the UK and the EU will not be able to agree on the terms of mutual trade at the end of the transition period on December 31, 2020. This uncertainty will push sterling down against the US dollar.
Technical side:
The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is in the oversold zone and is growing. Stoch also turn upwards.
GBPUSD rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair on as it rises if it doesn’t go above 1.2850 with a likely decline to 1.2715.
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