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

Order Sell
Sell stop Below 1.2953
Stop loss Above 1.2973

 

 

 

 

 

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This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.

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