GBPUSD Analysis: UK construction slowing bearish for GBPUSD

November 4, 2019

By IFCMarkets

UK construction slowing bearish for GBPUSD

UK construction activity declined in October for the sixth consecutive month. Will the GBPUSD decline?

GBPUSD falling towrd MA(200)

On 1-hour timeframe GBPUSD: H1 is in downtrend, above the 200-period moving average MA(200) which is levelling off. The RSI indicator is below 50 level but has not reached oversold zone.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.2900
Stop lossAbove 1.2920

Market Analysis provided by IFCMarkets