GBP is acting weak against USD due to UK’s retail sales data and today trades will be waiting for UK’s public sector net borrowing for September.
The support rests at 1.30130 with resistance at 1.30930 which both lines are below the weekly pivot point at 1.31460. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
1.30 level seems to be a strong support area. The price will start its growth eventually targeting 1.31.
