Technical Outlook For GBP/USD 24-6-2015

Technical Outlook For GBP/USD  24-6-2015

Gbp/Usd pair move yesterday in the average price movement of 122 Pips, it records the highest level at 1.5831 the lowest levels at 1.5709 levels and closed at 1.5726 to lose 98 pips according to positive economic data from USA

The pair opened today at 1.5726 oscillatory between the 1.5724 and 1.5762 levels during the Asian session in a trading average of 38 pips for the limitation of the market liquidity, and in the European session the pair went up to 1.5802

The pair is moving in a series of down corrective waves and till now the pair settled above 1.57.and now the pair is retesting the broken channel

And we saw the achieved our target at 1.5720 yesterday

It is expected that the pair Pound against the dollar will go to targeted level at 1.5705 in the next few hours According to economic data today.

And today at 13:30 we are looking for Final GDP q/q from USA.

And the Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market

Medium term trend: down

Support levels: 1.5679 and 1.5633 and 1.5557

Resistance levels: 1.5801 and 1.5877 and 1.5923

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