GBPUSD analysis for 05.12.2017

The Brexit talks have failed to progress which puts GBP under pressure while USD is also dealing with its own loss of momentum. The support rests at 1.33500 with resistance at 1.34760 which the weekly pivot point at 1.34120 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the Stochastic is showing downward momentum and MACD line is below the signal line in the negative territory. The ADX is showing sell signals. 1.333 will be the floor for this market therefore sellers can keep their positions until then and later buyers can target 1.36. https://fxglory.com/gbpusd-analysis-for-05-12-2017/