UK economy contraction bearish for GBPUSD
UK economy unexpectedly contracted in November. Will the GBPUSD continue declining?
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.
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Technical Analysis Summary
|Sell stop||Below 1.2953|
|Stop loss||Above 1.2973|
Market Analysis provided by IFCMarkets