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Rise towards 1.1448

Rise towards 1.1448 | 08 June 2017

08 June 2017, EUR/USD

Technical Observation
GBP is currently trading slightly above its weekly pivot line 1.12226. Unless this pivot line is clear breached to the lower side with a big red candle, I expect a move to the upper side. With the UK Elections just hours away, I expect a spike towards the weekly resistance line 1.1448 after the results if this elections and even a breakout above 1.1448 to continue long towards 1.2766. However, if the price is contained below this resistance line, 1.1448, even after the election, then a move towards 1.0443 looks more ideal
Technical levels:
Resistance levels
R1: 1.1293
R2: 1.1328
R3: 1.1407
Pivot Point
1.1249
Support Levels
S1: 1.1091
S2: 1.117
S3: 1.1214
Trade Signal
Rise towards 1.1448

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Imelda Maseno
Analyst of «FreshForex» company
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