The pair is trading above 1.2960 as the Bank of England is no longer expected to hike interest rates before the crucial Brexit decision. The pair may continue to decline following the release of the US consumer inflation data.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located above the oversold zone and moves horizontally. Stoch are growing.
Trading recommendations:
If the price goes below 1.2960, it will proceed further down to 1.2900.