GBPUSD analysis for 02.02.2017

GBP gained momentum due to UK’s Manufacturing PMI. The support rests at 1.26450 with resistance at 1.26960 which both lines are above the weekly pivot point at 1.25290. The EMA of 10 is moving with Bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. The price is above the Ichimoku Cloud and on the Chinkou Span. The Tenkan-sen is showing upward trend while the Kijun-sen is showing a horizontal trend. Long positions are recommended targeting 1.2700. https://fxglory.com/gbpusd-analysis-for-02-02-2017/