While GBP is still under the influence of news over Brexit, UK’s Halifax house price index for May will be released along with the US Non-Farm Payrolls.
The support rests at 1.26800 with resistance at 1.27260 which both lines are above the weekly pivot point at 1.26470. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA 200 and above the EMA of 100. The RSI is rising towards overbought area and the Stochastic is moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing buy signal.
The bearish pressure remains therefore sellers can target previous low at 1.25500; crossing 38.2 level of Fibonacci will confirm the correction pattern towards 1.29500.