GBPUSD Analysis: Narrowing UK current account deficit bullish for GBPUSD

December 20, 2019

By IFCMarkets

Narrowing UK current account deficit bullish for GBPUSD

The UK current account deficit narrowed by £8.3 billion to £15.9 billion in Quarter 3. Will the GBPUSD rise?

GBPUSD testing MA(200)

On 4-hour timeframe GBPUSD: H4 is in downtrend, poised to test the 200-period moving average MA(200) which is level. The RSI indicator is below 50 but has not reached the oversold zone.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.2989
Stop lossAbove 1.3189

Market Analysis provided by IFCMarkets