Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/USD trades below 1.3800 after UK GDP fell to 0.8% in May.
GBP/USD,D1
Pivot: 1.3791
Analysis:
While the price is below 1.4000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3791
- Take Profit 1: 1.3670
- Take Profit 2: 1.3540
Alternative scenario:
If the level 1.4000 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4000
- Take Profit 1: 1.4090
- Take Profit 2: 1.4240
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4240 | 1.3670 |
| 1.4090 | 1.3540 |
| 1.4000 | 1.3430 |
