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Here is the daily technical analysis for June 20, 2024. The data and analysis in this bulletin can be widely used for your trading activities. However, it should be noted that GICTrade and the data providers are not responsible for the results of your trading.
We will provide you with the forecast of price movements in Forex and Commodities, complete with the calculation of Pivot points, Resistance, and Support levels.
GBPUSD
GBP/USD on the 1-hour period is below the pivot area at 1.27160, attempting to move down to the first support area at 1.26920 and potentially reaching the second support area at 1.26730. Meanwhile, the RSI indicator is below the pivot area, suggesting that the Pound Sterling has the potential to decline further.
Suggest: Sell 1.27160 TP1 1.26920 TP2 1.26730 SL 1.27350
XAUUSD
Gold prices on the 1-hour period are above the second resistance area at 2340.80, attempting to move up towards the third resistance area at 2346.70 and potentially reaching the next resistance area at 2357.00. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to rise further.
Suggest: Buy 2341.00 TP1 2346.00 TP2 2351.00 SL 2336.00
CLSK (OIL)
Oil prices on the 1-hour period are below the pivot area at 80.67, with the potential to move down to the first support area at 80.21 and further towards the second support area at 79.83. Meanwhile, the RSI indicator is below the pivot area, suggesting that oil prices may decline further.
Suggest: Sell 80.70 TP1 80.20 TP2 79.70 SL 81.20
That's the explanation of “Daily Technical Analysis: June 20, 2024 – Pound Sterling Likely to Decline.” Also, check out our other articles, such as the guide on how to buy cryptocurrency, only on GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile App on the Google Play Store.
GBPUSD
GBP/USD on the 1-hour period is below the pivot area at 1.27160, attempting to move down to the first support area at 1.26920 and potentially reaching the second support area at 1.26730. Meanwhile, the RSI indicator is below the pivot area, suggesting that the Pound Sterling has the potential to decline further.
Suggest: Sell 1.27160 TP1 1.26920 TP2 1.26730 SL 1.27350
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
1.27085 |
1.27401 |
1.26973 |
1.27183 |
1.27082 |
0.00101 |
0.08% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
1.27780 |
1.27590 |
1.27350 |
1.27160 |
1.26920 |
1.26730 |
1.26490 |
XAUUSD
Gold prices on the 1-hour period are above the second resistance area at 2340.80, attempting to move up towards the third resistance area at 2346.70 and potentially reaching the next resistance area at 2357.00. Meanwhile, the RSI indicator is above the pivot area, indicating that gold prices have the potential to rise further.
Suggest: Buy 2341.00 TP1 2346.00 TP2 2351.00 SL 2336.00
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
2329.27 |
2334.98 |
2323.75 |
2330.48 |
2329.94 |
0.54 |
0.02% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
2346.70 |
2340.80 |
2335.50 |
2329.60 |
2324.20 |
2318.40 |
2313.00 |
CLSK (OIL)
Oil prices on the 1-hour period are below the pivot area at 80.67, with the potential to move down to the first support area at 80.21 and further towards the second support area at 79.83. Meanwhile, the RSI indicator is below the pivot area, suggesting that oil prices may decline further.
Suggest: Sell 80.70 TP1 80.20 TP2 79.70 SL 81.20
|
PREVIOUS RANGE |
||||||
|
OPEN |
HIGH |
LOW |
CLOSE |
PREV.CLOSE |
CHANGE |
%CHANGE |
|
80.73 |
81.13 |
80.29 |
80.59 |
81.49 |
-0.90 |
-1.10% |
|
DAILY PIVOT POINT |
||||||
|
R3 |
R2 |
R1 |
PIVOT |
S1 |
S2 |
S3 |
|
81.89 |
81.51 |
81.05 |
80.67 |
80.21 |
79.83 |
|
That's the explanation of “Daily Technical Analysis: June 20, 2024 – Pound Sterling Likely to Decline.” Also, check out our other articles, such as the guide on how to buy cryptocurrency, only on GIC Journal. Don't forget to enhance your trading skills by getting the Scalping Ebook guide. Make sure to download the GIC Mobile App on the Google Play Store.
