GBPUSD analysis for 23.08.2017

GBP is under pressure due to Brexit issue. The support rests at 1.27970 with resistance at 1.28350 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 in the oversold area, the Stochastic is showing downward momentum and MACD indicator is in negative territory. The ADX is showing sell signals. Short positions are recommended targeting 1.2750. https://fxglory.com/gbpusd-analysis-for-23-08-2017/