GBPUSD Analysis: Continuing decline in UK consumer confidence bearish for GBPUSD

June 8, 2020

By IFCMarkets

Continuing decline in UK consumer confidence bearish for GBPUSD

British consumer confidence fell in May: GfK Consumer Confidence index dropped to -36 after falling to -34 in April, when no change was expected. This is bearish for GBPUSD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelSell
MA(200)Buy
FractalsSell
Parabolic SARSell

 

Summary of technical analysis

OrderSell
Buy stopBelow 1.2649
Stop lossAbove 1.2712

Market Analysis provided by IFCMarkets