GBPUSD Stays above 200 & 100 EMA | June 6, 2017

GBPUSD started with a gap last morning but immediately it covered the gap and started the bullish momentum. It was trading on a ranging zone. Now, this pair is able to break that zone. It seems that this pair looses its bullish momentum at this momentum. So we should not enter buy here without any big bullish candle. We can avoid this situation for trading. Need to get a better setup for taking any entry.

It will be better to take buy entry from a lower position. 1.2880 can be near-term support level for taking buy position. On the upper side, 1.3000 can be good resistance for this pair. If any rejection forms, then we may take sell from 1.3000 resistance.

Support Level: 1.2880, 1.2850

Resistance Level: 1.3000, 1.3030

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