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GBPUSD Daily Forecast: June 13

Tuesday, June 12, 2018 21:41
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GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its short-term bearish bias and hit a fresh weekly low at 1.3342. The bias is neutral in nearest term. Price is moving inside a bearish channel as you can see on my H1 chart below suggests a valid bearish phase. Immediate resistance is seen around 1.3400 region located around the upper line of the bearish channel which is a good area to sell with a tight stop loss. Immediate support is seen around 1.3340. A clear break below that area would resume the bearish phase testing 1.3300 or lower. On the upside, a clear break above 1.3400/20 would invalidate the bearish phase retesting 1.3480 – 1.3500 region.


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