Despite the strong UK Producer Price Index, GBP did not grow. The support rests at 1.24360 with resistance at 1.25020 which both lines are below the weekly pivot point at 1.25410. The EMA of 10 is moving horizontally and it is below the EMA of 200 and above the EMA of 100. The RSI is moving on the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is showing a good buy opportunity. The chart seems bearish for today. Sellers can target 1.2300.
GBPUSD analysis for 16.11.2016
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