GBP/USD analysis for June 27, 2017

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Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested our first target level at 1.2760. According to the 4H time frame, I still expect higher price. The GBP/USD pair is in the short-term uptrend and my advice is to watch for buying opportunities. In the background I found a successful test of supply, which is a good sign for higher price. The next downward target is set at the price of 1.2805.

Resistance levels:

R1: 1.2765

R2: 1.2780

R3: 1.2800

Support levels:

S1: 1.2725

S2: 1.2700

S3: 1.2690

Trading recommendations for today: watch for potential buying opportunities.

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