GBP/USD is closing the week within a bearish tone after having found resistance at the highs from May 24. The support zone of 1.3342 is now being challenged and it seems we can expect a decline to test the 1.3264 level, which should strengthen the bearish bias in the short-term. MACD indicator stays in the negative territory, favoring to the bears.
H1 chart’s resistance levels: 1.3455 / 1.3595
H1 chart’s support levels: 1.3342 / 1.3264
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3342, take profit is at 1.3264, and stop loss is at 1.3421.The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD is closing the week within a bearish tone after having found resistance at the highs from May 24. The support zone of 1.3342 is now being challenged and it seems we can expect a decline to test the 1.3264 level, which should strengthen the bearish bias in the short-term. MACD indicator stays in the negative territory, favoring to the bears.
H1 chart’s resistance levels: 1.3455 / 1.3595
H1 chart’s support levels: 1.3342 / 1.3264
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3342, take profit is at 1.3264, and stop loss is at 1.3421.The material has been provided by InstaForex Company – www.instaforex.com
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