With Johnson’s leadership there would be the probability of no-deal Brexit which brings GBP under pressure.
The support rests at 1.24010 with resistance at 1.25280 which the weekly pivot point at 1.24880 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is falling towards oversold area and the Stochastic is moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
GBPUSD may continue its bearish trend within Andrew’s Pitchfork. Sellers can target 1.24000.
