UK’s CBI business optimism gave some support to GBP.
The support rests at 1.28720 with resistance at 1.29180 which both lines are below the weekly pivot point at 1.30280. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is rising towards 50 level and the Stochastic is showing upward momentum. The MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The indicators are showing upward trend, long positions are recommended towards the upper Bollinger band at 1.29900.