GBPUSD analysis for 19.10.2016

The GBP is being empowered by the positive Consumer Price index in the UK. The support rests at 1.22380 with resistance at 1.23150 which both lines are below the monthly pivot point at 1.31110. The EMA of 10 is moving with bullish bias and it is located below the EMA of 100. The RSI is moving in neutral area, the Stochastic is showing downward momentum and the MACD indicator is in neutral territory. Long positions are recommended with the target at 1.2400.

https://fxglory.com/gbpusd-analysis-for-19-10-2016/