GBPUSD Daily Analysis – June 30, 2014

GBPUSD is testing 1.7062 resistance, a break of this level will indicate that the uptrend from 1.6692 has resumed, then next target would be at 1.7200 area. Pound and US DollarSupport levels are at 1.6970 and 1.6921, only break below these levels could bring price back to 1.6750 zone.

Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee.

The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

 

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