analysis

GBPUSD analysis for 08.11.2018

GBP is being supported by the positive reports of Brexit deal and USD has been also empowered by the election results.
The support rests at 1.31240 with resistance at 1.31610 which both lines are above the weekly pivot point at 1.29010. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in overbought area, the Stochastic is moving in middle ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
Long positions are recommended towards 1.325.

gbpusd
Source: fxglory