GBPUSD analysis for 21.08.2017

It seems that BOE is not supporting GBP when it comes to the rate hike and GBP is under pressure due to the Brexit issue. The support rests at 1.28570 with resistance at 1.28890 which both lines are below the weekly pivot point at 1.29080. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving horizontally on the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is not showing any clear signals. Short positions are recommended towards 1.2800. https://fxglory.com/gbpusd-analysis-for-21-08-2017/