GBPUSD analysis for 03.01.2017

Although there has been no important economic reports, GBP has stayed powerful. The support rests at 1.22770 with resistance at 1.23160 which the weekly pivot point at 1.23100 is located in between the lines. The EMA of 10 is moving horizontally but it is below the EMA of 100 and the EMA of 200. The RSI is falling towards the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing a weak buy signal. The chart seems bearish targeting 1.22 level.


https://fxglory.com/gbpusd-analysis-for-03-01-2017/