GBP has been empowered by UK’s ILO Unemployment Rate.
The support rests at 1.27220 with resistance at 1.27850 which both lines are above the weekly pivot point at 1.25170. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA 200 and the EMA of 100. The RSI is moving in overbought area and the Stochastic is moving in high ranges. The MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The price has reached the upper Bollinger band so there is a high possibility of price decline towards 1.26300; The resistance line breakout will confirm the bullish trend towards 1.28500.
