Technical Analysis: GBPUSD

GBPUSD rose to a three-week high

On Monday, GBPUSD continued rising. At one point, it came close to the 1.340 mark, reaching the highest level since 17^th June.

The USDX climbed and then fell

On Monday, the USDX climbed and then fell. It ended down 0.01% at 100.86.

UK Services PMI was higher than expected in June

Markit公司公布的数据显示，英国6月服务业PMI终值为48.8，低于市场预期和前值48.7。

UK Services PMI (June) increased from 48.7 to 48.8 Vs. 48.7 (forecast), according to the data from Markit.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, GBPUSD rose steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that GBPUSD will rise further. Investors should focus on whether GBPUSD will break through the resistance at 1.346. It will jump with potential resistance at 1.351 if it breaks above 1.346.

4-hour chart

On the 4-hour chart, GBPUSD was prone to fluctuation and climbed. The bullish market trend prevailed in the short term. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether GBPUSD will break through the support at 1.335. It will jump if it retreats but is stable above 1.335.

Key resistance: 1.346,1.351

Key support: 1.335,1.329

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as it retreats during the day.