UK’s gross domestic product jumped 20.4% and the industrial production grew more than expected. While there are no major economic reports in the UK, GBPUSD will be chiefly under the influence of macro-economic data.
The support rests at 1.30060 with resistance at 1.31060 which the weekly pivot point at 1.30740 is located in between the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving above level 50, the Stochastic is moving in high ranges and the MACD line is below the signal line in the negative territory. The ADX is showing buy signal.
GBPUSD is moving in a tight range. The price may grow towards 1.31500 but then sellers can target 1.29900.