GBPUSD analysis for 05.06.2017

GBP is under pressure due to the recent attack to London also GBPUSD is under the influence of the elections in the Great Britain. The support rests at 1.12460 with resistance at 1.12830 which both lines are above the weekly pivot point at 1.12240. The EMA of 10 is moving with bullish bias along the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is showing downward momentum and MACD indicator is in positive territory. The ADX is not showing any clear signals. The support area seems to be too strong to be broken therefore go long and target 1.2962. https://fxglory.com/gbpusd-analysis-for-05-06-2017/