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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 September 15, 2017

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3616. Anyway, according to the 5M time frame, I found that there is a hidden bearish divergence on the MACD oscilator, which is a sign that buyers became exhausted. My avice is to watch for potential selling opportunties today. The downward targets are set at the price of 1.3530, 1.3500 and 1.3475. Another warning for buyers at this stage is that ATR went to extreme.

Resistance levels:

R1: 1.3580

R2: 1.3630

R3: 1.3720

Support levels:

S1: 1.3440

S2: 1.3350

S3: 1.3300

Trading recommendations for today: watch for potential selling opportunities.

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