While USD is getting weak it is under the influence of Fed’s decision regarding the rate hike. The support rests at 1.26130 with resistance at 1.27630 which both lines are above the weekly pivot point at 1.26010. The EMA of 10 is moving with bullish bias and it is above the EMA of 100 and the EMA of 200. The RSI is moving above 50 area, the Stochastic is moving in high ranges while showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signal. The resistance zone seems to be strong therefore short positions are recommended targeting 1.2500.
GBPUSD analysis for 13.12.2016
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