Slowing UK inflation bearish for GBPUSD
The UK consumer prices index growth declined to 1.5% over year in October 2019 from 1.7% in the previous month. Will the GBPUSD decline?
On 1-hour timeframe GBPUSD: H1 is in downtrend, below the 200-period moving average MA(200) which is falling. The RSI indicator is below 50 level but has not reached the oversold zone.
Technical Analysis Summary
| Order | Sell |
| Sell stop | Below 1.2822 |
| Stop loss | Above 1.2842 |