There is a high chance for pound growth due to the economic reports which are about to be released in the UK. The UK’s annual budget along with the report on the UK services sector will bring volatility to the market.
The support rests at 1.39300 with resistance at 1.40050. The weekly pivot point at 1.40190 is located above the lines. The EMA of 10 is moving with bullish bias in the long term ascendant channel and it is above the EMA of 100 and the EMA of 200. The Stochastic is moving in high ranges, the RSI is moving on level 50 and the ADX is showing buy signal. The MACD indicator is in positive territory.
We are staying bullish on GBPUSD targeting 1.41500.