GBPUSD corrected the bullish trend yesterday by falling about 49 points. Based on the COT report, traders are mostly interested in buying rather than selling.
The support rests at 1.38760 with resistance at 1.39750. The weekly pivot point at 1.37840 is located below the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The Stochastic is moving in low ranges, the RSI is rising towards overbought area and the ADX is showing sell signal. The MACD indicator is in negative territory.
Considering the USD fall, buyers can expect the upper Bollinger band at 1.40600.