Forex trading signals and analysis for GBPUSD – 13 June 2014

Forex trading signals and analysis for GBPUSD – 13 June 2014

Analysis:

The bullish momentum of GBPUSD started going back from 11 June 2014 after good employment data released and fueled by comments from BoE Governor yesterday to move more than 100 pips and break strong resistant level at 1.691 to move higher in early Asian trading session today.

Mark Carney said the BoE could raise interest rates from a record low earlier than investors expect as he expressed concern that mounting debt related to the housing market could undermine stability.

This news may push GBPUSD break the next strong resistant at 1.700.

Our strategy is to look for buy signals to joint the uptrend if GBPUSD retrace back to 1.6840 – 1.6860 zone with target of 1.700

Screenshot 2014-06-13 09.22.23

Forex Trading Signal:

Resistant zone:

+1.7300

+1.700 – 1.7035

Support zone:

+1.689 – 1691

+1.6820 – 1.6840

+1.6780

+1.6725

+ 1.669

+ 1.666

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