UK’s net consumer credit growth slowly but Britain’s mortgage approvals for house purchases has a sharp rise.
The support rests at 1.28460 with resistance at 1.29020 which the weekly pivot point at 1.28790 is located in between the lines. The EMA of 10 is moving horizontally in the horizontal channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising above 50 level, the Stochastic is moving in middle ranges and the MACD line is on the signal line in the positive territory. The ADX is showing buy signal.
The price is moving in a tight range. The resistance level breakout will push the price up towards 1.30000; otherwise, GBPUSD will be fluctuating within the channel.