GBP/USD analysis for July 03, 2017


Recently, the GBP/USD pair has been trading downwards.The price tested the level of 1.2962. According to the 15M time frame, I have found that sellers are in control today on the market. I found weak demand in a low volume on the rallies, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities today. Downward targets are set at the price of 1.2940 and 1.2920.

Resistance levels:

R1: 1.3010

R2: 1.3025

R3: 1.3035

Support levels:

S1: 1.2990

S2: 1.2980

S3: 1.2965

Trading recommendations for today: watch for potential selling opportunities.

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