InstaForex - Analytics


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    Daily analysis of GBP/USD for June 10, 2016 2016-06-09

    The pair is still looking to trade lower below the 200 SMA, as the cable is struggling to push higher and its gains remain limited. A breakout is currently happening at the 1.4464 level and that would open the doors for more declines toward the 1.4402 level. By the way, we're still expecting some sideways price action this Friday at least.


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    H1 chart's resistance levels: 1.4530 / 1.4649

    H1 chart's support levels: 1.4464 / 1.4402

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4464, take profit is at 1.4402 and stop loss is at 1.4528.

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