Daily analysis of GBP/USD for June 15, 2016

GBP/USD continues to show weakness in the short-term picture, as it has been doing declines toward the 1.4100 psychological level, where it found support. A breakout below that zone will expose the 1.4041 level, which should activate the "oversold" alert on the oscillators, such as the RSI and MACD, and eventually, the pair can rebound.

H1 chart's resistance levels: 1.4171 / 1.4247
H1 chart's support levels: 1.4100 / 1.4041

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 1.4100, take profit is at 1.4041 and stop loss is at 1.4160.

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