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GBPUSD D1 11 11 2019 1000

The GBP/USD pair might rise in the near term, according to our technical and fundamental analysis. The stochastic oscillator reached oversold levels by dropping below 20. The price may rise to 1.3175, where is Fibo 50%. The RSI indicator is above 50 on the weekly chart, and this shows an uptrend. Furthermore, the trend line on the weekly chart indicates the uptrend. The price is still above EMA 20 and EMA 50 on the weekly chart and a medium-term target might be 1.3139.

The most important data from this week:
November 12
UK Employment Change (-102k expectation); (-56k previous)
UK Unemployment rate (3.9% expectation); (3.9% previous)
November 13
UK CPI (1.6% expectation); (1.7% previous)
US CPI (1.7% expectation); (1.7% previous)
FED Chairman Jerome Powell Addresses Joint Economic Committee Of Congress
November 14
FED Chairman Jerome Powell Appears Before House Budget Committee 

GBPUSD W1 11 11 2019 1003

 

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