Consumer Price Index and Retail price index is being published in the UK and the US will release Fed’s decision on interest rates.
The support rests at 1.24200 with resistance at 1.25050 which both lines are above the weekly pivot point at 1.24120. 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 on the signal line in the neutral territory. The ADX is showing sell signal.
GBPUSD may grow towards 1.25500 but sellers can expect the correction pattern soon targeting 1.23500.