GBPUSD Forecast | UK economy contraction bearish for GBPUSD | IFCM

Technical Analysis GBPUSD : 2020-01-14

UK economy contraction bearish for GBPUSD

UK economy unexpectedly contracted in November. Will the GBPUSD continue declining?

GBPUSD falling below MA(200)

On 1-hour timeframe GBPUSD: H1 is in downtrend, falling below the 200-period moving average MA(200) which is falling itself. The RSI indicator is below 50 but has not reached the oversold zone.

Technical Analysis Summary

OrderSell
Sell stop Below 1.2953
Stop lossAbove 1.2973

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