GBP is under pressure due to the UK’s CPI data. ECB announcement and the Brexit issue are the other influential events for GBPUSD.
The support rests at 1.29630 with resistance at 1.30370 which the weekly pivot point at 1.30080 is located in between the lines. The EMA of 10 is moving with bearish bias but it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the Stochastic is moving in low ranges and MACD indicator is in positive territory. The ADX is showing sell signals.
Short positions are recommended targeting 1.290.

gbpusd analysis

gbpusd