While USD is being supported due to the rate hike possibility, GBP is still under pressure as the result of Brexit. The support rests at 1.24140 with resistance at 1.24500 which both lines are above the weekly pivot point at 1.23080. The EMA of 10 is moving horizontally and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is moving in high ranges while showing downward momentum and the MACD indicator is in neutral territory. The ADX is showing sell signal. Sellers’ next target is 1.2300.
GBPUSD analysis for 24.11.2016
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