June British pound futures a selling opportunity on more price weakness.
See on the daily bar chart for the June British pound futures that prices are in a five-week-old downtrend and on Tuesday hit a fresh 5.5-month low. The pound bears have downside technical momentum. A move below chart support at Tuesday’s low of 1.5622 would become a fresh selling opportunity. The downside price objective would be 1.5250, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.5800.
