Written By : ForexAbode.com || Tuesday, 23 June 2015 05:59 GMT

GBP/USD Analysis - June 23, 2015

Current Exchange Rate: 1.5782 at the time of analysis update.

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

If expected resistance at 1.5795 holds then further decline is expected towards 1.5755 to 1.15765 support zone, and in case of a break of this support to 1.5660 for GBP/USD. Any break of this support should extend the decline towards 1.5710. However, caution is required as the overall outlook stays on bullish side. 

 

On the upside a break above 1.5795 will turn the focus towards upside for 1.5835 resistance. This previous support level is now expected to turn into resistance.

 

GBP/USD Daily and Hourly Charts

GBP/USD Hourly Chart      

GBP/USD analysis - hourly chart - June 23, 2015

GBP/USD Daily Chart      

GBP/USD technical analysis - daily chart - June 23, 2015

GBPUSD trend lines - possibilities of the previous resistance to turn into support.

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 (Wednesday, 24 June 2015 03:51) 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 1.5929 R3 1.5878     R3 1.5776
R2 1.5878 R2 1.5833 R2 1.5874 R2 1.5766
R1 1.5811 R1 1.5805 R1 1.5803 R1 1.5755
Pivot 1.576 Pivot 1.576 Pivot 1.5756 Pivot 1.576
S1 1.5693 S1 1.5715 S1 1.5685 S1 1.5733
S2 1.5642 S2 1.5687 S2 1.5638 S2 1.5722
S3 1.5575 S3 1.5642     S3 1.5712
Open 1.5827 Open 1.5827 Open 1.5827 Open 1.5827
High 1.5827 High 1.5827 High 1.5827 High 1.5827
Low 1.5709 Low 1.5709 Low 1.5709 Low 1.5709
Close 1.5744 Close 1.5744 Close 1.5744 Close 1.5744

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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