June British Pound Futures Just Hit a 5-Month High. Here Are the Levels to Watch for a Buying Opportunity.

June British pound (B6M25) futures are a buying opportunity on more price strength. 

You can see on the daily bar chart for the June British pound futures that prices are trending up and hit a five-month high this week. The bulls have the firm near-term technical advantage.

Fundamentally, judging by recent price action in the pound and the U.S. Dollar Index ($DXY), currency traders reckon the U.K. economy will fare better than the U.S. economy amid global trade uncertainty and tariff threats. Price trends in currency markets tend to be stronger and longer lasting than price trends in other markets. Thus, the British pound may have significantly more price upside in the coming weeks and months. A move in the June British pound chart resistance at this week’s high of 1.3009 would become a buying opportunity. The upside price objective would be 1.3500 or above. Technical support, for which to place a protective sell stop just below, is located at 1.2800.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.