GBPUSD analysis for 09.09.2016

GBPUSD is under the influence of Manufacturing Production report and Governor Carney’s speech. The support rests at 1.32960 with resistance at 1.33500 which both lines are above the weekly pivot point at 1.32330. The EMA of 10 is moving with bearish bias along the descendant channel and it is located above the EMA of 100. The RSI is moving on 50 level, the Stochastic has reached its minimum rate and it is showing upward momentum and the MACD indicator is in positive territory heading down. Long positions are recommended with the target at 1.3400.

https://fxglory.com/gbpusd-analysis-for-09-09-2016/