GBPUSD intraday technical analysis - 22/06/2018

GBPUSD

1.32714 / 1.32722

SUMMARY

Up

TREND

Upward penetration

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: Possible surge higher the resistive measure at 1.3282 (R1) is liable to activate recovery phase from the initial bearish setup. In such scenario we would suggest next target zone from 1.3315 (R2) onto 1.3348 (R3) price levels.
Downwards scenario: Session low, located at 1.3252 (S1) offers a key support measure on the downside. Successful retest here is very important for the bearish market participants due to the absence of the strong support levels on the way towards to next targets at 1.3216 (S2) and 1.3180 (S3).

Resistance levels: 1.3282, 1.3315, 1.3348

Support levels: 1.3252, 1.3216, 1.3180