UK’s RICS housing price balance increased more than expected.
The support rests at 1.25900 with resistance at 1.26960 which both lines are above the weekly pivot point at 1.24220. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in 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 showing buy signal.
The price has already reached the upper Bollinger band but it may grow further towards the resistance line at 1.26960.