FX.co ★ Trading recommendations for the GBP / USD currency pair on June 20, 2018

The Pound / Dollar currency pair for yesterday's trading day managed to overcome the ill-fated level of 1.3200, which for a long time kept the quotation. The US dollar is becoming more attractive and more attractive about its "colleagues" from Europe, who are so catching up on their national currency, whether this is Draghi or Teresa. Today, the traders is another batch of statements, it is final, the third in a row, by Mario Draghi and the speech of the Fed Heads of Powell, while they have the same appearance, 16:30 thus be ready for the races.

Further development

The current stagnation clearly reflects customer indecision, before I assumed that after the pulse travel with the breakdown level, we still see a temporary pullback, but it was not so, "bears" and do not give a step to do, keeping their positions. What are the assumptions? I'm still inclined to move further downward, the current stagnation in the form of consolidation of double-digit candles such as "Dodge" in some sense, you can deduct for regrouping. The reduction benchmarks are the same as before - the range psychological level of 1.3000 (1.3000 / 1.3050), I consider it a strong support point, where it is already possible a significant slowdown with the recovery successor. It is likely that we will see further descent closer to the ECB and the Fed.

Indicator analysis

Analyzing the different sector of timeframes (TF), we see that the indicator analysis confirms the previously described judgment and is more inclined to sell.

Key Levels

Resistance zones: 1.3200; 1,3300 *; 1.3440 **

Support zones: 1.3000 ** (1.3000 / 1.3050)

* Periodic level