GBP/USD analysis for January 18, 2018


Recently, the GBP/USD pair has been trading sideways at the price of 1.3882. According to the 30M time - frame, I found a bullish breakout of the pivot point at the price of 1.3840. I also found a broken horizontal base, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3927 and at the price of 1.4025.

Resistance levels:

R1: 1.3928

R2: 1.4028

R3: 1.4114

Support levels:

S1: 1.3742

S2: 1.3656

S3: 1.3556

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -