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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 July 11, 2017

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2909. According to the 1H time frame, I found a completed double bottom formation, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities due to a breakout of the neckline. The upward projection is set at the price of 1.2965.

Resistance levels:

R1: 1.2910

R2: 1.2925

R3: 1.2945

Support levels:

S1: 1.2875

S2: 1.2855

S3: 1.2840

Trading recommendations for today: watch for potential buying opportunities.

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