Forex Technical Analysis, GBP/USD Daily Forecast June 2, 2016

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Forex Technical Analysis, GBP/USD Daily Forecast June 2, 2016

Daily Forecast – The GBP/USD pair fell during the course of the day on Wednesday, as we broke towards the 1.44 level. There is a significant amount of support just below here, so this point in time it would not be that big of a surprise to see a bit of a bounce. This is especially true considering that the polls recently have suggested that although there is more of a shift towards leaving the European Union, the reality is that we are still very close. With this being the case, expect a lot of volatility but I tend to prefer short-term selling opportunities.

In Other View Point – GBPUSD – Head and shoulders test

The GBPUSD has gone through a big pullback the last 2 days. GbpUsd formed a head and shoulder pattern, and tested the breakout once and today we might see another test to the neckline. We will be looking for 1 hourly and 4 hourly buy signals today in that support area. We will update our PRO Members of any price action signal today

Daily Forecast

Courtesy : www.fxempire.com/technical/technical-analysis-reports/gbpusd-forecast-june-2-2016-technical-analysis-341630

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