GBPUSD analysis for 05.05.2017

There are no important economic reports in the Great Britain therefore GBPUSD is chiefly under the influence of economic reports in the US. The support rests at 1.29140 with resistance at 1.29550 which both lines are above the weekly pivot point at 1.2893. 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 horizontally on the 50 level, the Stochastic is moving in high ranges and MACD indicator is in neutral territory. The ADX is not showing any clear signals. Long positions are recommended targeting 1.30. https://fxglory.com/gbpusd-analysis-for-05-05-2017/