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Analysis of GBP/USD for June 23, 2017

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2744. Anyway, according to the 30M time frame, I found climax action followed by no demand bars, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at 1.2653 and 1.2640.

Resistance levels:

R1: 1.2700

R2: 1.2715

R3: 1.2740

Support levels:

S1: 1.2660

S2: 1.2635

S3: 1.2615

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com