The UK construction sector data gave some strength to GBP not to fall further. The USD might be still on bullish rally after Powell’s speech.
The support rests at 1.38350 with resistance at 1.39400. The weekly pivot point at 1.40190 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
The USD bulls are dragging the price down towards 1.37700.
