Monthly reviews

GBPUSD market technical outlook

GBPUSD

Analysis method - “Gann Swings + Price Action” June 2, 2018

Monthly chart: Downswing has started predictably with potential of decline under 1.1515. There is an opportunity of broken support zone 1.3844 retest. Therefore for intraday-traders it’s quite possible to consider longs inside this swing.

chart

Conclusions:

Main scenario: Pullback towards 1.3844 zone and then continuation of mid-term decline.

Alternative scenario: Continuation of quotes’ fall from current levels. During june the reach of the 1.25-1.26 area is possible.

Trading recommendations:

  1. Search for buy signals towards 1.3844.

  2. Shorts from zone 1.3844.