GBPUSD analysis for 16.09.2020

GBP went under pressure due to the high unemployment data.
The support rests at 1.28580 with resistance at 1.29090 which both lines are below weekly pivot point at 1.29430. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on level 50, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
Considering the correction pattern, GBPUSD may break the resistance line and target level 38.2 of Fibonacci at 1.30400.

gbpusd
Source: fxglory