Browsing all articles tagged with price action. resistance
Jun
5

GBP/USD D1 Technical June 05

The long term outlook for the cable is bullish. Bollinger bands are showing buy signals for the pair. GBP/USD is expected to test its resistance at 1.5410 level.

Price action on 1.5260 level should be watch carefully. If GBP/USD manage to hold this support level and H4 candle closure above 1.5260 then pair will remain n bullish potential and the target will be 1.5400 level.

But the scenario will be vanished. If cable fails to hold its support level and H4 candle closure below 1.5260 level the it will open gates southward and GBP/USD will then rapidly fall towards 1.5200 level.

High impact News can affect the trend of GBP/USD. News like Services PMI, Non-Farm Employment Change, ISM Non-Manufacturing PMI.