Daily Technical Analysis: June 22, 2023 – BOE Raises Interest Rates, Sterling?

The following is a technical daily analysis, June 22, 2023. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 days and 3 nights. In the following, we will inform you about the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels.

EURUSD

The daily technical analysis for the EUR/USD pair on the 1-hour period moved further upwards, trying to touch the resistance level at 1.09950 and towards the next resistance level at 1.10350. The upward trend can also be seen from the FXBot template, where the EUR figure is higher by 6.0 than the USD figure of 4.2. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 1.09950 TP1 1.10350 TP2 1.10500 SL 1.09600

GBPUSD

GBP/USD on the 1-hour period tried to move downwards touching the support level at 1.27550 until heading towards the next support level at 1.27090. The downward trend can also be seen from the FXBot template, where the GBP figure is lower by 4.0 than the USD figure of 4.4. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Buy 1.27500 TP1 1.27800 TP2 1.28000 SL 1.27200

AUDUSD

AUD/USD on the 1-hour period tried to move down, touching the support level at 0.67600 until heading towards the next support level at 0.67190. The downward trend is also seen from the FXBot template, where the AUD figure is lower by 0.8 than the USD figure of 4.0. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.67600 TP1 0.67400 TP2 0.67190 SL 0.67820

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period moved further downwards, trying to touch the support level at 0.89130 and towards the next support level at 0.88770. The downward trend can also be seen from the FXBot template, where the CHF figure is higher by 6.8 than the USD figure of 3.5. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.89130 TP1 0.88900 TP2 0.88770 SL 0.89400

USDJPY

USD/JPY in the 1-hour period tried to move down, touching the support level at 141,600 until heading to the next support level at 141,120. The downward trend can also be seen from the FXBot template, where the JPY figure is higher by 5.6 than the USD figure of 3.2. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 141.600 TP1 141.400 TP2 141.120 SL 141.900

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period moved down further, trying to touch the support area at 1924.10 until heading towards the next support level at 1911.50. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1930.00 TP1 1924.10 TP2 1920.00 SL 1935.00

CLSK (OIL)

Daily technical analysis for oil prices in the 1-hour period moves further upwards, needing to break through the resistance level at 73.23 to the next resistance level at 73.91. Meanwhile, to change the bias to bearish, oil prices need to pass the support level at 71.85 to reach the next support level at 71.33.

Suggest: Buy 73.00 TP1 73.50 TP2 73.91 SL 72.50