GBPUSD analysis for 09.10.2017

GBP is getting weak due to the domestic and political pressure on the UK. Today GBPUSD would not be volatile because of the US holiday and the UK is not releasing any economic reports. The support rests at 1.30650 with resistance at 1.31320 which both lines are below the weekly pivot point at 1.31630. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and below the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is showing buy signals. Long positions are recommended towards 1.3291. https://fxglory.com/gbpusd-analysis-for-09-10-2017/