empty
 
 
17.06.2015 11:49 PM
Daily analysis of GBP/USD for June 18, 2015

Bulls took control of the trend in the GBP/USD pair, because the Fed showed dovish stance at their latest meeting on Wednesday. Currently, the pair is approaching the resistance level of 1.5898. If it does a breakout of that zone, it would be expected to reach a high at the level of 1.6036 in coming hours. The MACD indicator remains in the positive territory.

This image is no longer relevant

At the H1 chart, the pair has been trading higher breaking important resistance in an intraday bias and now it's looking to overcome a high around 1.5841. In case of success, it would do a rally towards the resistance zone of 1.5884. Anyway, be cautious with the overbought levels showed in lower time frames.

This image is no longer relevant

Daily chart's resistance levels: 1.5898 / 1.6036

Daily chart's support levels: 1.5755 / 1.5543

H1 chart's resistance levels: 1.5841 / 1.5884

H1 chart's support levels: 1.5789 / 1.5750

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5841, take profit is at 1.5884, and stop loss is at 1.5796.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback