There was a price increase yesterday which was mostly due to the weakness of the USD. There are no major favorable economic reports in the UK, the industrial production is going to grow after the previous fall but the trade balance is going to weaken.
The support rests at 1.37030 with resistance at 1.37920. The weekly pivot point at 1.37640 is located in between the lines. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The Stochastic is showing downward momentum, the RSI is rising towards level 50 and the ADX is not showing any clear signals. The MACD indicator is in positive territory.
The GBP bears are pulling the price down towards 1.36900.
