26.06.201623:01 Forex Analysis & Reviews: Daily analysis of GBP/USD for June 27, 2016

Long-term review

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The "Brexit" has been decided by UK citizens, and markets around the globe started to show huge volatile moves. GBP/USD is the main one that felt the consequences of that decision. Currently, the pair is trading into historical lows and is finding support at the 1.3653 level. To trade the Cable during this week at least, it should be advisable to be cautious, as the closest support and resistance levels are so far. If the pair manages to break the 1.3653 level, then it could test the 1.3380 level.

H1 chart's resistance levels: 1.3912 / 1.4108

H1 chart's support levels: 1.3653 / 1.3380

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3653, take profit is at 1.3380 and stop loss is at 1.3920.

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