UK money supply growth slowing bullish for GBPUSD
Britain’s M4 money supply (currency in circulation plus money in bank accounts) was unchanged in October after 0.2% increase over month in September. Will the GBPUSD rise?
The price chart on 1-hour timeframe shows GBPUSD: H1 is trading sideways. The price is testing the 200-period moving average MA(200) which is falling. And the RSI oscillator is below 50 level and has not reached the oversold zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.