GBPUSD Technical analysis 02.11.17

GBPUSD

The pair is trading at 1.3275 level. If the British central bank raises the rates, the pair may experience a limited growth. However, if Mark Carney, the Governor of the Bank of England, announces that the further raise of borrowing costs is unlikely, the effect will be opposite. In this case, the pair will be highly likely to plummet.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above 50% level and moves horizontally. Stoch are growing.

Trading recommendations:

The aforementioned scenario will lead to the price falling down to 1.13190.