GBP grew on Friday but today there are no major economic reports in the UK.
The support rests at 1.21580 with resistance at 1.23010 which the weekly pivot point at 1.22150 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA 200 and above the EMA of 100. The RSI is falling towards 50 level and the Stochastic is showing downward momentum. The MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
If the price goes below the weekly pivot point, bearish trend is expected targeting 1.21120.