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: 1.1293R2: 1.1328
R3: 1.1407
Pivot Point
1.1249
Support Levels
S1: 1.1091S2: 1.117
S3: 1.1214
Trade Signal
Rise towards 1.1448
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
