Daily analysis of GBP/USD for July 03, 2017

GBP/USD continues to hover around 1.3000 and it's waiting for a catalyst that will take it to test the next psychological zone of 1.3100. However, gains will be limited during this week, but this scenario could change if UK politics' headlines hit the wires to move GBP pairs. To the downside, nearest support is located at 1.2923.


H1 chart's resistance levels: 1.3011 / 1.3105

H1 chart's support levels: 1.2923 / 1.2756

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3011, take profit is at 1.3105 and stop loss is at 1.2918.

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