GBPUSD Analysis: Industrial order expectations decline bearish for GBPUSD

October 22, 2019

By IFCMarkets

Industrial order expectations decline bearish for GBPUSD

The Confederation of British Industry Industrial Order Expectations Index decreased more than expected in the quarter to October. Will the GBPUSD decline?

GBPUSD falling toward MA(200)

The price chart on 1-hour timeframe shows GBPUSD: H1 is in downtrend. The price is falling toward the 200-period moving average MA(200) which is rising. The RSI oscillator is rising toward 50 level.

Technical Analysis Summary

OrderSell
Sell stopBelow 1.2921
Stop lossAbove 1.2941

Market Analysis provided by IFCMarkets