Jul
2

GBP/USD D1 Technical July 02

The structure or the Cable is not clear yet. Today range for the GBP is 1.5150-1.5270 level.  Bollinger bands are showing buy signal for the pair. There can be two scenario.

Firstly, If pair manage to break its support 1.5150 level and then it will allow pair to target 1.5100 level.  Secondly, if pair manage to hold its support level and H4 candle chart closure above support then it will take GBP/USD towards northward and pair will then target 1.5270 level which is today’s resistance.

High impact Data of GBP can affect the trend of Pair. Data like Construction PMI.

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