GBP was weakened when Bank of England left rates unchanged. The UK PMI Manufacturing, PMI Services and Composite PMI will be released today.
The support rests at 1.23760 with resistance at 1.25260 which the weekly pivot point at 1.24610 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The UK reports may bring the bulls back to the chart. While considering pullbacks, buyers can target the upper Bollinger band at 1.25270.
