GBPUSD is chiefly under the influence of Unemployment Rate and Average Earnings. The support rests at 1.23080 with resistance at 1.23720 which both lines are above the weekly pivot point at 1.21820. The EMA of 10 is moving with bullish bias along the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The price is declining towards 1.2300 area.
GBPUSD analysis for 18.01.2017
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