UK GDP miss bearish for GBPUSD
UK GDP was steady over month in October after 0.1% decline in previous month, while 0.1% growth was forecast. Will the GBPUSD decline?
The price chart on 1-hour timeframe shows GBPUSD: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is rising. And the RSI oscillator is falling toward 50 level. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.