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.
Technical Analysis Summary
Sell stop Below 1.2953
Stop loss Above 1.2973