GBPUSD analysis for 05.10.2017

The market did not react to the several economic reports being published in the US yesterday and today the US will release the unemployment claims. The support rests at 1.32150 with resistance at 1.32690 which both lines are below the weekly pivot point at 1.34350. The EMA of 10 is moving with bearish bias in the descendant channel but it is above the EMA of 200 and below the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing buy signals. Short positions are recommended towards 1.31 area. If the resistance level is broken, GBPUSD will grow to 1.34. https://fxglory.com/gbpusd-analysis-for-05-10-2017/