GBP/USD: forecast for June 22-28
GBP/USD faced resistance around 1.5870 after a strong two-week rally. This is where 50% Fibonacci from the 2014 decline and the 200-week MA lie. There is an even stronger area around 1.6000: neckline of an inverse head-and-shoulders pattern. If the pair fails to break higher, we expect a rapid pullback towards the 1.5550 support.
There are no important releases scheduled in Great Britain on the new week. Watch the Greek headlines and the US economic calendar.
Chart. Daily GBP/USD