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GBPUSD Follows upward Channel | June 7, 2017



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Gbpusd is following an upward channel. We can look for more bullish on this pair. On h4 chart, a bullish engulfing is formed. So we can expect some bullish movement also. This pair is fighting with 100 and 200 moving average at this moment. So this is ranging zone for this pair. We need clear breakout for getting fresh movement.

Stochastic indicator is showing in the upward direction. So traders look for the buy on this pair. There is no sell confirmation candle on this pair yet. You may find support at 1.2840 which can be near term buy zone for this pair. Another support lies on 1.2770. If break both supports, then we can get big fall on this pair. Otherwise, above support, we recommend for buy. 

Support level: 1.2840, 1.2770

Resistance Level: 1.2940, 1.3030 1.3030

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