GBPUSD analysis for 15.06.2017

The UK is publishing Retail sales data and the monetary policy summary from the MPC along with the US releasing Industrial Production MoM and Export Prices MoM. The support rests at 1.27200 with resistance at 1.27650 which both lines are below the weekly pivot point at 1.27830. 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 oversold area, the Stochastic is showing downward momentum and MACD indicator is in negative territory. The ADX is not showing any clear signals. Short positions are recommended targeting 1.2650. https://fxglory.com/gbpusd-analysis-for-15-06-2017/