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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.



Expert In



GBP/USD analysis for January 31, 2018


Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.4121. Anyway, accorrding to the 15M time – frarme I found a successful rejection of Fibonacci retracement 38.2%, which is a sign that selling looks risky. I aslo found a bullish cross on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4210 and at the price of 1.4264 (Fibonacci expansion 61.8%).

Resistance levels:

R1: 1.4217

R2: 1.4285

R3: 1.4405

Support levels:

S1: 1.4030

S2: 1.3912

S3: 1.3845

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -