GBPUSD Analysis: Slowing UK inflation bearish for GBPUSD

November 13, 2019

By IFCMarkets

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?

GBPUSD falling below MA(200)

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

OrderSell
Sell stopBelow 1.2822
Stop lossAbove 1.2842

Market Analysis provided by IFCMarkets