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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 19, 2017

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Recently, the GBP/USD has been trading sideways at the price of 1.3025 According to the 30M time frame, I found that strong supply entered the market in the background. Today, I found no demand bars and up-thrust bars, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3005, 1.2990 and 1.2945.

Resistance levels:

R1: 1.3065

R2: 1.3080

R3: 1.3110

Support levels:

S1: 1.3025

S2: 1.3000

S3: 1.2985

Trading recommendations for today: watch for potential selling opportunities.

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