GBPUSD Analysis: Interest rate cut by Bank of England bearish for GBPUSD

March 11, 2020

By IFCMarkets

Interest rate cut by Bank of England bearish for GBPUSD

Bank of England cut interest rates half a percentage point to 0.5% in an emergency statement. It mentioned in the decision business activity “is likely to weaken materially in the United Kingdom over the coming months.” This is bearish for GBPUSD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelNeutral
MA(200)Neutral
FractalsSell
Parabolic SARBuy

 

Summary of technical analysis

OrderSell
Buy stopBelow 1.2829
Stop lossAbove 1.2975

Market Analysis provided by IFCMarkets