GBP is being weakened due to UK’s PMI Construction.
The support rests at 1.24280 with resistance at 1.24540 which both lines are below the weekly pivot point at 1.25120. The EMA of 10 is moving with bearish bias along the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving horizontally below the 50 level, the Stochastic is moving in low ranges and MACD indicator is in negative territory. The ADX is showing sell signals.
The bearish trend will continue until it reaches 1.2400, however, GBPUSD will start its growth towards 1.2598 soon.

gbpusd analysis

gbpusd