GBPUSD will be massively under the influence of UK’s ILO unemployment rate and average weekly earnings.
The support rests at 1.24230 with resistance at 1.25200 which both lines are below the weekly pivot point at 1.25310. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving in oversold area and the Stochastic is moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The support line seems to be too strong to be broken therefore the correction pattern may start soon targeting 1.25500.