GBP/USD Technical Overview
FxGrow | May 31, 2017 16:45
With absence of economic data on both Sterling and US dollar, the pair should trade technically.
Trend: Bearish /Sideways (H1)
Pivot: 1.2835
Preferable scenario: Short positions below pivot 1.2835 holds further dips seeing 1.2787 (S1), in case of penetration next station should be 1.2740 (S2), then (S3) at 1.2700. (H1 supports)
The alternative case, if British Pound (USD) stayed above pivot 1.2835, expectations for further attacks at (R1) 1.2882 first. If (R1) failed, potentials for additional hikes seeing (R2) at 1.2925, next (R3) 1.2960. (H1 Resistances)
Comment: keep an eye on U.S Index levels, he upward potential is likely to be limited by the resistance at 1.2840.
MACD indicates bearish momentum (H1).
RSI indicates bearish momentum (H1).
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