While USD is losing its power, GBP is being supported due to the Service PMI. The support rests at 1.32950 with resistance at 1.33370 which both lines are above the weekly pivot point at 1.32330. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 100. The RSI is moving above the 50 area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory showing the price growth. Long positions are recommended targeting 1.3360.
GBPUSD analysis for 06.09.2016
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