Wait for a pullback towards 1.2747 to short GBP towards 1.2567 | 09 June 2017
09 June 2017, GBP/USD
Technical Observation
Following the release of the UK's Elections, GBP gaped below the ascending channel and even below a key daily support line 1.2747. This is a clear bearish dominance signal, and unless there's a clear bullish breach above this support line with a big green candle, i expect a retracement towards this support line, then a decline towards 1.2567. On the 4 hour chart above, sell positions seems more ideal but only after a retracement to the just broken line
Technical levels:
Resistance levels
R1: 1.2909
R2: 1.3075
R3: 1.3337
Pivot Point
1.2812
Support Levels
S1: 1.2287S2: 1.255
S3: 1.2647
Trade Signal
Wait for a pullback towards 1.2747 to short GBP towards 1.2567
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.
