Written By : ForexAbode.com || Thursday, 18 June 2015 06:29 GMT

GBP/USD Analysis - June 18, 2015

Current Exchange Rate: 1.5918 at the time of analysis update.

Intraday outlook: Mildly bullish outlook for GBP/USD..

The outlook continues to be bullish for GBP/USD and the only checking factor is the psychological resistance of 1.6000 ranges. Some resisnce is being experience near 1.5929 but if a support over 1.5885 holds then we expect further gains first towards 1.5955 and then possibly 1.5980. We will be cautious here because of the psychological aspects of 1.6000 level but the bullish sentiments seem to be in full swing.

On the downside if the support at 1.5880/1.5885 does not hold then a test of 1.5850 level will be expected.

GBP/USD Daily and Hourly Charts

GBP/USD Hourly Chart      

GBP/USD analysis - hourly chart - June 18, 2015

GBP/USD Daily Chart      

GBP/USD technical analysis - daily chart - June 18, 2015

GBPUSD breaks some critical resistances.

Further Resources and notes

Note 1: Please also take a look at GBP/USD forecast for mid-term trading approach updated on the weekends.

Note 2: Please subscribe to the analysis newsletter so that we can send email alerts as soon as we update the the same.

You may also share and check any GBP/USD chart alerts in the blog section and GBP/USD market sentiments in Forex forum and Forex blog.

 
GBP/USD Interest rate Comparison
(For Carry Trades)
Pound sterling (GBP) interest rate
0.50%
U.S. dollar (USD) interest rate
0.25%
GBP/USD interest Rate Comparison
0.25%

GBP/USD Resistance and Support with Daily Pivot Points (Values at GMT 00:00)

Last Updated (Friday, 19 June 2015 02:29) GMT

Standard Pivot Point for GBP/USD Fibonacci Pivot Point for GBP/USD Woodie Pivot Point for GBP/USD Camarilla Pivot Point for GBP/USD
R3 1.6067 R3 1.5998     R3 1.5921
R2 1.5998 R2 1.5951 R2 1.6002 R2 1.591
R1 1.5943 R1 1.5922 R1 1.5949 R1 1.5898
Pivot 1.5874 Pivot 1.5874 Pivot 1.5878 Pivot 1.5874
S1 1.5819 S1 1.5827 S1 1.5825 S1 1.5876
S2 1.575 S2 1.5798 S2 1.5754 S2 1.5864
S3 1.5695 S3 1.575     S3 1.5853
Open 1.5848 Open 1.5848 Open 1.5848 Open 1.5848
High 1.5930 High 1.5930 High 1.5930 High 1.5930
Low 1.5806 Low 1.5806 Low 1.5806 Low 1.5806
Close 1.5887 Close 1.5887 Close 1.5887 Close 1.5887

GBP/USD's Correlations with other currency majors

GBP/USD Correlation Values:
 
GBP/USD
P
e
r
i
o
d
G
B
P
/
U
S
D
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/JPY
EUR
/USD
NZD
/USD
USD
/CAD
USD
/CHF
USD
/JPY
1
W
e
e
k
1 0.61 0.58 0.26 0.47 0.77 0.26 -0.77 -0.51 0.25
1
M
o
n
t
h
1 -0.81 -0.81 -0.82 0.17 0.36 0.64 -0.76 -0.57 -0.21
1
Y
e
a
r
1 0.28 -0.81 -0.94 0.85 0.9 0.88 0.65 -0.94 0.69

GBP/USD Correlation Graph:
 
0.61
   
0.28
   
 
0.58
   
-0.81
   
 
0.26
   
-0.94
   
 
0.47
   
0.85
   
 
0.77
   
0.9
   
 
0.26
   
0.88
   
 
-0.77
   
0.65
   
 
-0.51
   
-0.94
   
 
0.25
   
0.69
   
   
0.61
   
0.28
 
   
0.58
   
0.81
 
   
0.26
   
0.94
 
   
0.47
   
0.85
 
   
0.77
   
0.9
 
   
0.26
   
0.88
 
   
0.77
   
0.65
 
   
0.51
   
0.94
 
   
0.25
   
0.69

Notes and caution about Forex analysis for GBP/USD

The daily GBP/USD analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and GBP/USD price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for GBP/USD.

However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.

Please check the current GBP/USD Exchange Rate.

Check any Real-Time GBP/USD Trades in Forum.

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