Jun
10

GBP/USD D1 Technical June 10

The long term trend for the cable is bullish. Bollinger bands are not showing clear trend because of overbought of GBP/USD.

GBP/USD is expected to test its support at 1.5500 level. Price action on this level should be handle carefully. If pair manage to break this level and H4 candle closure below 1.5500 level then it will indicate lack of bullish potential and cable will then dropped towards 1.5415 level.

On the contrary, if GBP/USD 1.5607 level and D1 closure above resistance level will give more strength to pair. That will take cable further upward and GBP/USD will then target 1.5692 level.

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