GBP is under the influence of Brexit issue, the Unemployment Rate and the average Earnings. As shown in the chart GBPUSD has been volatile these days creating long candles. The support lies at 1.41310 with resistance at 1.42110 which both lines are below the weekly pivot point at 1.4365. The EMA of 10 is moving below the EMA of 75 with bearish bias. Indicators are not showing clear signals, the RSI is in neutral zone, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. Buyers can have a slight chance of making profit if the resistance level is broken targeting 1.4400 otherwise the decrease will continue to 1.4060.
GBPUSD analysis for 16.06.2016
Comments are closed.