empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

04.06.202107:28 Forex Analysis & Reviews: Technical Analysis of GBP/USD for June 4, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical Market Outlook:

The GBP/USD pair has broken below the first technical support seen at the level of 1.4110 and is approaching the next technical support located at 1.4089 and 1.4077. The momentum is negative and weak, so if the level of 1.4077 is violated, then the bears might push the market towards the next target seen at the level of 1.4000 and this is the key technical support for bulls.

Weekly Pivot Points:

WR3 - 1.4370

WR2 - 1.4303

WR1 - 1.4219

Weekly Pivot - 1.4140

WS1 - 1.4061

WS2 - 1.3988

WS3 - 1.3910

Trading Recommendations:

The daily time frame chart show the breakout above the trend line resistance and a new swing high above the recent consolidation zone located around 1.4000. The momentum is strong and positive, so the up trend can be continued towards the next long-term target located at the level of 1.4222 (high from 24.02.2021).

Exchange Rates 04.06.2021 analysis

Sebastian Seliga
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off