The pound has gained a little strength throughout the trading day on Monday, but has since given up some of its gains as we have been unable to maintain our positive stance. The market is now in the middle of consolidation, as we are grinding about above the 1.30 handle. This is an area that will get a great deal of attention generally, as the market has a big support region in that area that dates back many years. Furthermore, it is a circular number that is psychologically significant as well.
In this case, support is found at 1.31100, while the resistance is found at 1.31270. Below the price line, at 1.31170, is the pivot point. To put it simply, the EMA of 10 is in a slight bearish movement below the EMA of 200 and the EMA of 100 which are slightly moving downward. Stochastic is moving toward the overbought zone. The RSI is moving toward the level of 70 and the ADX is showing a rising signal. The MACD histogram is in positive territory with the signals showing an uptrend.

• There is resistance at 1.31270, followed by resistance at 1.31340 and 1.31440.
• There is support at 1.31100. Below, there is 1.31000and 1.30930.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.