Forex trading signals and analysis for GBPUSD – 16 June 2014

Forex trading signals and analysis for GBPUSD – 16 June 2014

Analysis:

GBPUSD tested 1.700 quickly after broken 1.6920 as we expected and closed the week at 1.6962.

1.700 zone is the multiyear  high and the resistant here is very strong. GBPUSD can break this level or not will depend on UK CPI data tomorrow.

We expect GBPUSD will retest 1.700 zone again today before moving down. Therefore, our strategy today will be looking for selling signals around 1.700 zone and buying signals around 1.6920 zone.

Screenshot 2014-06-16 09.41.32

Forex Trading Signal:

Resistant zone:

+1.7300

+1.700 – 1.7035

Support zone:

+1.6920

+1.6840

+1.6780

+1.6725

+ 1.669

+ 1.666

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