UK’s Markit manufacturing PMI will be released in a few hours.
The support rests at 1.31400 with resistance at 1.32990 which both lines are above the weekly pivot point at 1.30360. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
It seems that GBPUSD has already created the correction pattern and it’s time for price decline. Sellers can target the middle Bollinger band at 1.31040.
