Retail Sales data and Public Sector Net Borrowing will be released in the UK and there will be FOMC Members’ talks in the US.
The support rests at 1.23820 with resistance at 1.24690 which both lines are below the weekly pivot point at 1.26120. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards 50, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
To complete the correction pattern GBPUSD needs to fall towards 1.23500.