After the weak economic reports for the USD, bullish trend is the most probable scenario for GBPUSD.
The support rests at 1.30350 with resistance at 1.31270 which both lines are above the weekly pivot point at 1.30080. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals.
Long positions are recommended targeting 1.34 area including pullbacks on the way.

gbpusd analysis