GBPUSD – Analysis and Forex Trading Signals – 02 June 2014

GBPUSD – Analysis and Forex Trading Signals – 02 June 2014

Analysis:

UK May Markit Manufacturing PMI printed at 57.0, meet expectation. UK April Morgage Approval, Consumer Credit and Net Lending to Individuals data all below expectation.

GBPUSD was pushed lower at early of Europe Trading Session, however 1.6725 seems a very strong support level that can not be broken.

Although data is bearish for GBPUSD and medium term down trend is still exist. However, short term trend of GBPUSD is up now.

We expect GBPUSD will move up to test 1.6800 – 1.6850 again and we will looking for sell signals within this zone.

Screenshot 2014-06-02 16.35.03

Forex Trading Signals:

Resistant zone:

+1.699 – 1.700

+1.689 – 1691

+1.680 – 1.684

+1.6780

Support zone:

+1.6725

+ 1.669

+ 1.666

 

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