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GBPUSD Technical analysis 22 June 2018

2018-06-22 01:15 am | Resource: Technical Analysis | No Views : 89

Time frame Used - four hours
The GBPUSD is moving in a bearish direction in the near term
The purchasing power managed to control the GBPUSD to bounce back to the resistance level of 1.3274  as it faces selling pressures around this level.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area
Accordingly, we expect that the GBPUSD will fall to levels of  1.3152 - 1.3100
The alternative scenario is that the GBPUSD breach level of 1.3274 to the upside targeting level  of 1.3347, which by breaching above will target level of 1.3446
  Resistance: 1.3274 - 1.3347 - 1.3446
Support: 1.3218 - 1.3152 - 1.3100
Direction: Down
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