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?

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

Order Sell
Sell stop Below 1.2921
Stop loss Above 1.2941

Market Analysis provided by IFCMarkets