The market looks to be calm
While USD is being empowered by the positive economic data, Brexit has no influence on GBPUSD. After the strong ascend on the chart, the Chart is not showing any clear signal at the moment and the market is expected to be steady for the next few days.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.30460 with resistance at 1.30950 which both lines are below the weekly pivot point at 1.31130. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA 100 and the EMA of 200. The RSI is moving on 50 level and the Stochastic is moving in middle ranges. The MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
GBPUSD will be fluctuating within the lower and upper Bollinger bands. The support level breakthrough may push the price down towards 1.29 area.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.