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GBPUSD Daily Forecast: June 13

GBPUSD Daily Forecast: June 13
Wednesday, June 13th, 2018 @ 4:18 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its short-term bearish bias and hit a fresh weekly low at 1.3342. The bias is neutral in nearest term. Price is moving inside a bearish channel as you can see on my H1 chart below suggests a valid bearish phase. Immediate resistance is seen around 1.3400 region located around the upper line of the bearish channel which is a good area to sell with a tight stop loss. Immediate support is seen around 1.3340. A clear break below that area would resume the bearish phase testing 1.3300 or lower. On the upside, a clear break above 1.3400/20 would invalidate the bearish phase retesting 1.3480 – 1.3500 region.

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