GBPUSD – Daily Forex Technicals by ForexHound.com June 16th

GBPUSD has tested the resistance area above 1.9500 and is now showing signs of weaknes, helped along by the USD strength signaled across the board. Falling once again below 1.9500 will give bearish traders an opportunity to open new positions with a decent stop placed above this mornings high at 1.9550. GBPUSD has tested the resistance area above 1.9500 and is now showing signs of weaknes, helped along by the USD strength signaled across the board. Falling once again below 1.9500 will give bearish traders an opportunity to open new positions with a decent stop placed above this mornings high at 1.9550; a larger target for this trade is the 1.9250/80 area.

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