GBPUSD analysis for 19.05.2017

GBP was supported due to the strong retail sales report. The support rests at 1.29350 with resistance at 1.30290 which both lines are above the weekly pivot point at 1.29040. 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 rising above the 50 level, the Stochastic is moving in middle ranges and MACD indicator is in positive territory. The ADX is not showing any clear signals. Long positions are recommended targeting 1.30. https://fxglory.com/gbpusd-analysis-for-19-05-2017/