On the H1 chart, GBP/USD had no major changes after the Fed interest rate
decision, and the pair is still trading into a sideways structure, but
being favored by the bears at the moment. If the pair manages to break
the support zone of 1.4171, then it should reach the lows from the June
14th session. The 200 SMA is still flat, but slightly bearish in an
overall view.
H1 chart’s resistance
levels: 1.4171 / 1.4247
H1 chart’s support levels:
1.4100 / 1.4041
Trading recommendations for today: Based on the H1 chart,
place sell (short) orders only if the GBP/USD pair breaks a bearish
candlestick; the support level is at 1.4171, take profit is at 1.4100
and stop loss is at 1.4247.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of GBP/USD for June 16, 2016 appeared first on forex-analytics.press.