GBPUSD Technical Analysis
for June 13th 2013
The GBP/USD rose
significantly to reach the Moving Average 300 on the daily chart at 1.5701, due
to weak US Dollar amid
uncertainty over the Federal Reserve measures to boost the economy.
However this
rally will not continue as we expect a strong shift of the trend from bullish
to bearish, during the next week, especially on
the Fed's next policy meeting on June 18th and 19th to announce the future
plans .
We also notice
on the daily chart that the GBP/USD will face a strong resistance at the 1.5715
level, and it would be difficult to breach it up, so the prices will retreat
from this point.
