GBPUSD technical analysis 12.11.2020

GBPUSD

The pair is in a downward turn amid the “constitutional crisis” in America, and the resulting strong demand for the dollar as a safe haven currency. The pound sterling is negatively affected by the weak GDP, and the industrial production data published this morning.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI tests the 50% level moving downward. Stoch are not informative.

GBPUSD rate online: monitor the price movement in real time.

Trading recommendations:

Sell the pair with a possible decline to 1.3117.