GBPUSD Analysis | FX | Currency Trading Online | PhillipCapital UK News | BoE
07 November

GBPUSD Analysis | FX | Currency Trading Online | PhillipCapital UK News | BoE

Technical Chart pick of the day: GBPUSD – Bearish

 

· On a technical perspective, the trend is bearish, with prices below the 20, 40, 100 and 200 EMA.

· Prices failed to break above the 20 EMA and retraced. This indicates that selling pressure is present.

· Based on the pivot point analysis, prices are below the pivot level. This signifies bearishness.

 

Resistance: R1: 1.28874, R2: 1.29188, R3: 1.29721

Support:     S1: 1.28341, S2: 1.28122, S3: 1.27589

 

The BoE is expected to leave the interest rate unchanged today while it is still unclear who will replace governor Mark Carney after January 31st.

 

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