GBPUSD analysis for 26.10.2016

GBPUSD is only under the influence of the BOE’s Governor Carney’s comments. The support rests at 1.21520 with resistance at 1.22020 which both lines are below the weekly pivot point at 1.22300. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and EMA of 200. The RSI is moving below the 50 level, the Stochastic is moving in neutral area and the MACD indicator is moving towards the negative territory. The ADX is showing stronger sell opportunity rather than buy. Short positions are recommended targeting 1.2100.

https://fxglory.com/gbpusd-analysis-for-26-10-2016/