By IFCMarkets
UK economy contraction bearish for GBPUSD
UK economy unexpectedly contracted in November. Will the GBPUSD continue declining?
On 1-hour timeframe GBPUSD: H1 is in downtrend, falling below the 200-period moving average MA(200) which is falling itself. The RSI indicator is below 50 but has not reached the oversold zone.
| Order | Sell |
| Sell stop | Below 1.2953 |
| Stop loss | Above 1.2973 |
Market Analysis provided by IFCMarkets