GBPUSD analysis for 09.08.2017

While GBP is under pressure because of the Brexit issue, USD is being supported by the JOLT employment data. The support rests at 1.29660 with resistance at 1.30000 which both lines are below the weekly pivot point at 1.31080. The EMA of 10 is moving with bearish bias along the descendant channel and it has reached the EMA of 200 but both are below the EMA of 100. The RSI is moving horizontally in oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing weak buy signals. Short positions are recommended targeting 1.2850. https://fxglory.com/gbpusd-analysis-for-09-08-2017/