By IFCMarkets
Expanding UK money supply bearish for GBPUSD
UK’s broad monetary aggregate M4 rose 0.7% on month in September from 0.4% in August. Will the GBPUSD decline?
The price chart on 1-hour timeframe shows GBPUSD: H1 is trading sideways. The price is rising toward the 200-period moving average MA(200) which is level. And the RSI oscillator is above 50 level but has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
Market Analysis provided by IFCMarkets