12.11.2020
The pair is in a downward turn amid the “constitutional crisis” in America, and the resulting strong demand for the dollar as a safe haven currency. The pound sterling is negatively affected by the weak GDP, and the industrial production data published this morning.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI tests the 50% level moving downward. Stoch are not informative.
GBPUSD rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair with a possible decline to 1.3117.
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