GBP/USD analysis for January 10, 2018


Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3481. Anyway, according to the 1H time – frame, I found a fake breakout of the support cluster, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator and bullish outside bar, which is a sign of strength. My advice is to watch for potential buying opportunities. The upwad targets are set at the price of 1.3580 and at the price of 1.3610,

Resistance levels:

R1: 1.3579

R2: 1.3620

R3: 1.3655

Support levels:

S1: 1.3503

S2: 1.3465

S3: 1.3425

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -