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14.06.201722:01 Forex Analysis & Reviews: Daily analysis of GBP/USD for June 15, 2017

Long-term review

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The pair had a very volatile day on Wednesday following Fed's interest rate decision to hike the current benchmark by 25bps, but it didn't gather enough bearish momentum to break below the support level of 1.2741, which is the last hurdle before 1.2660. However, we might expect a rebound towards 1.2826 in a first degree.

H1 chart's resistance levels: 1.2826 / 1.2880

H1 chart's support levels: 1.2741 / 1.2660

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2741, take profit is at 1.2660 and stop loss is at 1.2823.

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