Traders are buying GBP with hope of successful Brexit negotiations. The US economic reports today will add some volatility to the market.
The support rests at 1.28850 with resistance at 1.29250 which both lines are below the weekly pivot point at 1.29430. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and below the EMA of 200. The RSI is rising towards the overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
Long positions are recommended towards 1.30.