GBP/USD Forecast June 10, 2014, Technical Analysis

The GBP/USD pair rose during the beginning of the session on Monday, but eventually turned back around to form a shooting star for the second session in a row. With this, we feel that this market will more than likely pullback from here, but the 1.67 level should be rather supportive. With that being said, instead of selling a break below the bottom of the shooting star, we would rather buy a supportive candle closer to the 1.67 level. On the other hand, if we break above the top of the shooting star, we would be buyers there as well.

 

GBP/USD Forecast June 10, 2014, Technical Analysis