The forthcoming speech of Bank of England president Andrew Bailey may put pressure on the GBP. The reports from the US economy will be the influential factor for GBPUSD.
The support rests at 1.26950 with resistance at 1.27610 which both lines are below the weekly pivot point at 1.29030. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards level 50, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The resistance level breakout will confirm the growth towards 1.28100; long-term traders and expect further decline.