GBPUSD analysis for 19.09.2016

After the sharp decline on Friday, today GBPUSD is moving with bullish bias. The support rests at 1.29740 with resistance at 1.30640 which both lines are below the weekly pivot point at 1.31130. 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 oversold area, the Stochastic has reached its minimum rate and it is showing upward momentum and the MACD indicator is in negative territory. The pair may rise to 1.31 area to create its correction pattern.

https://fxglory.com/gbpusd-analysis-for-19-09-2016/