GBP/USD Market Breaks Down at the Lower Range

British Pound Price Prediction – June 15
The GBP/USD market activity currently breaks down at the lower range trading zone of 1.4100. The currency pair’s value as of writing is traded at around the level of 1.4074 at a rate of -0.21 percent.

GBP/USD Market
Key Levels:
Resistance levels: 1.4200, 1.4300, 1.4400
Support levels: 1.4000, 1.3900, 1.3800
GBP/USD – Daily Chart
The GBP/USD daily chart now depicts that there is a downward force signaling a start of breaking southward away from long-kept range-bound trading zones of 1.4200 and 1.4100. The lower range-line and the 14-day SMA trend-line are located at the lower range trading value. And, they have slightly breached to the south as the 50-day SMA indicator is located underneath them at 1.3900 level. The stochastic Oscillators have slantingly moved into the oversold region. And, yet, they cross the lines pointing to the southbound in it to indicate that a downside move has taken up the market space presently.

Could the present early breaking down of the GBP/USD market’s lower range trading spot last long?
Over several weeks of session, the market operations between GBP and the USD have converged closely above the value of 1.4100 without a notable record of price attempting to break down the smaller SMA. But, now, there has been such a scenario indicating a slight return of potential down run of this currency market. A reversal against the level of 1.4100 as of now, may lead to decimating that analytical write-up in no time.

Regarding a stable continuation of the current fresh lower range breakdown of this market, as it is indicated by the Stochastic Oscillators’ reading, bears needed now than ever have to display a kind of very strong consolidation moving manner. A long well-formed bearish candlestick from the point of the lower range zone will most likely allow for further free fall-offs in the next sessions to possibly aim at touching a lowly value around the bigger SMA at a later time.

Summarily, a long bearish formation of a Japanese candlestick around the lower range trading at 1.4100 will most likely allow the GBP/USD pair to set on a downward move to a lower point. But, a reversal against the point earlier mentioned will potentially invalidate the current break downforce.

GBP/USD 4-hour Chart
On the medium-term chart, the GBP/USD market has now seen an interception of the bigger SMA by the smaller SMA from the top in a strong confirmation that a downward move is on a higher note as the lower range spot has equally breached to the south. The 14-day SMA trend-line now points to the south slightly below the 50-day SMA indicator. The Stochastic Oscillators have the lines in between ranges of 40 and 20 pointing to the south signaling strong support to now possibly begin to see the downside featuring in this currency pair’s trading situation. However, traders are advised to avoid late entry of placing positions.


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