Technical analysis 11.02.19

GBPUSD

The pair is trading above 1.2920. It’s still held down by the uncertainty over Brexit. It may resume falling if today’s GDP data is weak.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are entering the oversold territory.

Trading recommendations:

Sell the pair with a possible target of 1.2830.