GBPUSD will be massively under the influence of economic reports being released in the UK within a few hours such as UK’s gross domestic product, industrial production, manufacturing production, construction output and trade balance data.
The support rests at 1.24330 with resistance at 1.24670 which both lines are below the weekly pivot point at 1.25710. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving in oversold 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 sell signal.
The support line seems to be too strong to be broken, GBPUSD may grow towards the upper Bollinger band at 1.25800.