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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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GBP/USD analysis for June 19, 2017

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Recently, the GBP/USD has been trading upwards. The price tested the level of 1.2814. Anyway, according to the 30M time frame, I found a fake breakout of the Friday's high at 1.2805, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2760 and 1.2725.

Resistance levels:

R1: 1.2820

R2: 1.2840

R3: 1.2870

Support levels:

S1: 1.2775

S2: 1.2750

S3: 1.2730

Trading recommendations for today: watch for potential selling opportunities.

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