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GBP/USD Analysis, Expectations Move Down to 1.7040 to 1.6990 for June, 23 2014

June 23, 2014 10:08 am

Today GBP/USD currency have uptrend in Asian Session due to highest level of 2009. This currency pair have not any fundamental event today and may be this pair move downward now as technical bases. On Friday GBP/USD currency pair have fully downward trend from 1.7039 to 1.7002 support level and close near at 1.7012.

Technical Overview:

This pair in strong bullish pattern move down for short time and overall upward movements, today 200MA at 1.6924 and weekly pivot at 1.6999 and daily support level at 1.6997 and daily pivot at 1.7024 and now currency market touched 1.7044 resistance level, so now bearish movement is expected and this currency pair reached at 1.6990 support level.

Recommendations:

Today this pair have strong upward trend in Asian Session and reached at resistance level 1.7044 and technical this pair complete upward movements and now possibility move down near at 1.6990 level, so sell trade is best.

 

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