Forex forecast for 20 June 2017.
Yesterday the pair passed the level of 111.00 and today it is very close to the next local resistance of 111.80. Behind it - two more important levels 112.00 and 112.30. Technically this area is able to hold up bulls for a while and even cause a correction to 110.00.
The pair follows the dynamics of the dollar. The European economy is gradually recovering, but this is not enough to form an upward trend for the euro. This week the macroeconomic calendar for Europe is empty, Forex traders are likely to focus on geopolitics and follow the negotiations on Brexit.
As expected the resistance of 1.28 is not overcome for pound. Yesterday GBP/USD corrected to the middle of the range 1.28-1.27. Today Mark Carney will give a speech and perhaps comment on the situation in the Committee for Monetary Policy.