While the fundamental reports from the UK are not supportive, GBP is trying to keep the strength. Negotiations on Brexit still continue which might lead to the decline in GBP value. Important data will be released today in the UK such as GDP, Industrial Production, Manufacturing Production and Visible Trade Balance.
The support stays at 1.31850 with resistance at 1.32540 which both lines are above the weekly pivot point at 1.30600. The EMA of 10 is moving with bearish bias in ascendant channel and it is above the EMA of 100 and 200. The RSI is falling towards level 50, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing sell signal.
As long as the bearish pressure remains, sellers can expect the price to hit the lower Bollinger band at 1.31250.
