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Technical analysis of GBP/USD for June 9, 2015

The weekly echnical analysis of GBP/USD pair:

gbpusd_pp.png

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Trading recommendations:

  • According to the previous events, the GBP/USD pair is still moving between the levels of 1.5271 and 1.5383. Also, it should be noted that the psychological level has set at 1.5291 which represents the weekly pivot point on June 9, 2015. Buy above the minor support at 1.5271 with the first target at 1.5330. In case the trend will be able to break the level of 1.5330, it might move towards 1.5414 in order to test the weekly resistance 1. On the other hand, look further downside below the resistances of 1.5414 and 1.5400 with targets at 1.5225 and 1.5201. It should be noted that a double bottom will be formed at the level of 1.5200 in the H1 chart.

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