GBPUSD analysis for 29.08.2017

GBPUSD will be volatile today because, due to the UK holiday yesterday, GBP did not have a chance to react to Yellen’s speech. The support rests at 1.29110 with resistance at 1.29540 which both lines are above the weekly pivot point at 1.28550. The EMA of 10 is moving with bullish bias along the ascendant channel but it is below the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. Long positions are recommended targeting 1.30. https://fxglory.com/gbpusd-analysis-for-29-08-2017/