FxGrow Daily Technical Analysis – 26th July, 2017
By FxGrow Research & Analysis Team

GBP/USD To Retest 10 EMA Ahead UK GDP


GBP/USD failed to withhold yesterday's strong gains after clocking 1.3083 high, the pair was on a selloff wave landing on 1.3007 low and closing at 1.3024 with an inverted daily pin bar, still flirting with 10 EMA at 1.3000 level. Current daily RSI stands at 57% indicating bullish to neutral bias which gives enough space for the pair for pressing upwards in case UK GDP comes in favor of GBP/USD bullish trend. GBP/USD currently trading 1.3013 intraday with 16 pips price action.

On the other hand, U.S Index remains bearish, and yesterday and currently recovery is considered a correction phase, as the downside still prevails for the buck. Currently trading at 39.97 intraday, after plunging to 93.45 yesterday ahead of ...

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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.