GBPUSD analysis for 20.06.2016

Brexit is influencing many currency pairs at the moment and also the murder of the Parliament member is another important news factor for today. When the market opened there was a sudden rise for this pair but now it is creating a bearish candle. The support rests at 1.45270 with resistance at 1.46510 which both lines are above the weekly pivot point at 1.42760. The EMA of 10 had a sharp rise as well and just crossed the EMA of 75 but this rise would not last long. The RSI is in overbought area and may fall soon and the MACD indicator is in neutral zone. The 1.50 area is the strong resistance area and it seems that sellers are not going to be replaced by buyers. At the moment we stay bearish and wait for the price to drop to 1.4150.


https://fxglory.com/gbpusd-analysis-for-20-06-2016/