# GBP/USD Short-Term Pullback (June 23, 2014) Source: https://www.tradersway.com/resources/market-info/gbp-usd-short-term-pullback-june-23-2014/ Language: en Updated: 2014-06-23 Description: Explore GBP/USD Short-Term Pullback (June 23, 2014). GBP/USD has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBP/USD has recently made a strong convincing break past its yearly highs at the 1.7000 major psychological level, indicating a continuation of the long-term rally. However, price has retreated back to the 1.7000 area after reaching highs past the 1.7060 levels. Stochastic is also exhibiting a bearish divergence, which indicates trend exhaustion. The technical indicator is currently pointing down from the overbought level, which means that bulls might not be ready to push the pair higher anytime soon. This could mean that a pullback near the broken resistance area is in play. ![GBP/USD Short-Term Pullback (June 23, 2014)] Going long at the 1.7000 level with a stop below the 61.8% Fibonacci retracement level at 1.6975 could yield a high return on risk if one aims for new highs. Moving the stop to entry once price tests the latest resistance at 1.7060 could be a good way to protect profits. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbp-usd-short-term-pullback-june-23-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/gbp-usd-short-term-pullback-june-23-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbp-usd-short-term-pullback-june-23-2014/", "headline": "GBP/USD Short-Term Pullback (June 23, 2014)", "inLanguage": "en", "datePublished": "2014-06-23T13:35:00+00:00", "dateModified": "2014-06-23T13:35:00+00:00", "articleSection": "Market Info", "description": "Explore GBP/USD Short-Term Pullback (June 23, 2014). GBP/USD has. 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