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GBPUSD Forex Analysis for June 7th 2019

GBPUSD Forex Analysis for June 7th 2019
Friday, June 7th, 2019 @ 4:11 am by Muhammad Azeem

About Muhammad Azeem:

Muhammad Azeem Mr. Azeem is a pure technician and solely employs technical market analysis in trading. He believes that the news is just the catalyst for technical events. In his opinion, prices are so far ahead of any news story as every conceivable fundamental possibility has already been discounted. Muhammad is a regular participant in the FX Instructor Live Trading Room.

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Price action looks solid sideways in GBPUSD and it is moving no place. The market is venturing down and venturing up and currency investors could undoubtedly see that market activity is printing all over mix swings. Upcoming near term direction of the market looks ambiguous and we could expect GBPUSD to hit buy zone or sell zone.

Zig Zag pattern has appeared in intraday chart. Solid long area is available at 1.2668 value level and solid short area is available at 1.2741, in light of latest swing high and swing low in 15 minutes time span of GBPUSD. With reference to the sideways pattern, currency traders ought to consider no sell and no buy trades. In any case; a bearish break down in market activity beneath 1.2668 buyer area or a bullish break out in price activity above 1.2741, helps to bring a new trend in market. In this way, in view of the present market circumstance, abstain from buying and selling GBPUSD and simply keep re- investigating the market development.

GBPUSD Forex Analysis

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