The pair is under pressure below 1.2800 amid yesterday's Bank of England’s unexpected key interest rate cut by 0.50% to 0.25%. The pair will continue its local decline.
The price is below the middle line of the Bollinger indicator, below SMA 5 and SMA 14. RSI is above the 50% …
The pair is below 1.1370. Expect a resumption of its decline if the situation in the financial markets stabilizes. Expectation of the ECB cutting rates to negative values will put pressure on the single currency.
The price is at the midline Bollinger band, below SMA 5, but still above SMA …
The overall trend in global markets is downward. The first factor is the coronavirus, the second is the inability or unwillingness to negotiate a reduction in oil production, which led to a strong decline in oil prices. At the same time, all markets are falling regardless of the businesses’ influence …
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