GBP is losing power against the weak dollar. The support rests at 1.29100 with resistance at 1.30300 which both lines are above the weekly pivot point at 1.31130. The EMA of 10 is moving with bearish bias along the descendant channel and it is located below the EMA of 100. The RSI is moving below the 50 level, the Stochastic has reached its minimum rate and it is showing upward momentum and the MACD indicator is in negative territory. Short positions are recommended with the target at 1.2870.
GBPUSD analysis for 21.09.2016
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