Technical analysis of GBPUSD dated 20.04.2016

GBPUSD is under the influence of interest rates in the Bank of England and the risk of Brexit. The pair is finding support at 1.43430 with resistance at 1.44010 which both of them are above the weekly pivot point at 1.41830. The EMA of 10 is above the EMA of 50 which shows the price expansion during the last recent days. The MACD indicator is in positive territory showing the price growth. The RSI is above the 50 level showing the same prediction. The ADX is also showing that buyers are stronger than sellers. If the bullish trend reaches the resistance level then it would remain so in short term basis. Long positions are recommended with the target at 1.4480.

https://fxglory.com/technical-analysis-of-gbpusd-dated-20-04-2016/