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13 June 2018

Forex

13 June GBPUSD Technical Analysis: Pair is strongly bearish

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After a modest rebound to the 1.3340-45 region, the pair is slowly drifting back towards the post-UK CPI swing lows. What next should traders expect? Gain insight into the latest 13 June GBPUSD Technical Analysis.

13 June, OctaFX – The British pound has fallen to a fresh weekly trading-low against the US dollar, following the release of key United Kingdom CPI Inflation data. The GBPUSD pair currently trades around the 1.3320 level and remains under technical selling pressure while price trades below the 1.3341 level.

Sterling traders will look for further weakness below the 1.3300 support level as the key FOMC rate decision approaches.

13 June GBPUSD Technical Analysis

  • The GBPUSD pair is strongly bearish while trading below the 1.3300 level, key technical support is now located at the 1.3253 and 1.3200 levels.
  • If the GBPUSD pair holds above the 1.3300 level, buyers may test towards the 1.3341 and 1.3400 resistance levels.

Disclaimer

This article about 13 June GBPUSD Technical Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.


UK CPI GBPUSD

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