GBP is being supported by the Theresa May’s decision. The support rests at 1.21390 with resistance at 1.22270 which both lines are below the weekly pivot point at 1.23710. The EMA of 10 is moving with bearish bias along the descendant channel and it is located below the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving horizontally in its minimum rates and the MACD indicator is in negative territory. While GBPUSD is moving below 1.2470 level, the chart will stay bearish.
GBPUSD analysis for 13.10.2016
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