UK’s Markit manufacturing PMI grew and supported GBP against USD. There are no major economic reports in the UK and the US so eyes will be on macroeconomic reports.
The support rests at 1.30440 with resistance at 1.31060 which both lines are above the weekly pivot point at 1.30110. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards level 50, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing weak buy signal.
The support level breakthrough will confirm the correction pattern towards 1.29500.