GBPUSD – Daily Forex Technicals by ForexHound.com June 18th

GBPUSD has given us a new shorting opportunity with a retrace to the 62 EMA (marked in red on our chart) after yesterday’s hard fall and has since tested the 1.9500 support level, we expect the downside pressure to be strong enough to push the pair lower and break the support aiming for 1.9450. GBPUSD has given us a new shorting opportunity with a retrace to the 62 EMA (marked in red on our chart) after yesterday’s hard fall and has since tested the 1.9500 support level, we expect the downside pressure to be strong enough to push the pair lower and break the support aiming for 1.945. One has to be aware of the BOE news coming out this morning that could have a significant impact on how the pair will move until the US session.

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