Source: PaxForex Premium Analytics Portal, Technical Insight
Reuters reports that the Bank of England's Chief Economist Haldane will step down after the June MPC meeting. Haldane will take over as head of the Royal Society of Arts.
GBP/USD, 30 min
Pivot: 1.3944
Analysis:
Provided that the currency pair is traded below 1.3960, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3944
- Take Profit 1: 1.3930
- Take Profit 2: 1.3910
Alternative scenario:
In case of breakout of the level 1.3960, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3960
- Take Profit 1: 1.3980
- Take Profit 2: 1.4000
Comment:
RSI shows descending momentum during the day.
Key levels:
Resistance | Support |
1.4020 | 1.3930 |
1.3980 | 1.3910 |
1.3960 | 1.3890 |
GBP/USD, D1
Pivot: 1.3883
Analysis:
While the price is above 1.3670, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3883
- Take Profit 1: 1.4010
- Take Profit 2: 1.4240
Alternative scenario:
If the level 1.3670 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3670
- Take Profit 1: 1.3450
- Take Profit 2: 1.3260
Comment:
RSI indicates that an uptrend continues in the medium term.
Key levels:
Resistance | Support |
1.4370 | 1.3670 |
1.4240 | 1.3450 |
1.4010 | 1.3260 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – sell below 1.2130 with 1.2080 and 1.2065 as Take Profit targets. Alternative scenario - if the level of 1.2130 is broken-out, you should consider buying with the targets 1.2150 and 1.2170 as Take Profit.
USD/CAD - short positions below 1.2315 with 1.2250 and 1.2225 targets as Take Profit. Alternative scenario - if the level of 1.2315 is broken-out, buy with the targets 1.2350 and 1.2390 as Take Profit.
NZD/USD – sell below 0.7273 with 0.7205 and 0.7188 targets as Take Profit. Alternative scenario - if the level 0.7273 is broken-out, buy with the TP 0.7303 and 0.7321.