ThinkForex - Analytics

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    'No' camp rattles Sterling

    The British Pound sold off heavily across the board overnight as a poll revealed the no camp to be in control, reminding traders to no be too complacent of remaining in the EU. Matt Simpson, Senior Market Analyst at ThinkForex takes a technical look at GBPUSD and EURGBP.  
     



     

     

     

    GBPUSD:    Remains within bull channel but monitoring bearish wedge
    Resistance 3:   1.477 (03/05 high, near upper boundary of  bearish wedge)
    Resistance 2:   1.474 (26/05 high, near monthly R1 and weekly r1)
    Resistance 1:   1.4580 (prior support, 50% retracement of bearish outside day)
    SPOT   1.4485
    Support 1:   1.4410/60 (23/05 low), weekly s1)
    Support 2:   1.433 (16/05 low)
    Support 3:   1.4285 (monthly s1, weekly s2, 29/02 trendline)

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