Technical analysis
The price trades below the EMA(50) and EMA(100)
The EMA(100) lies higher than the EMA (50), which is favourable for the bears
The MACD indicator is below 0, with the signal line approaching zero
The RSI is below 50.
What the possible outcomes are
GBPUSD slipped from 1,400 and now trades near 1.39260. The Bank of England showed no rush raising interest rates or its hawkish monetary policy intentions.
The RSI is below 50, suggesting a downside.
If the price breaks the initial support level of 1.38930, it could test the next one at 1.38625
Alternatively, if the price reverses, then it could reach the first resistance level of 1.39527. A pass above the first level can fuel the bulls toward 1.39984.
Key levels
Support 1.38930 1.38625
Resistance 1.39527 1.39984
