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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 February 01, 2018


Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4274. Anyway, according to the 30M time – frame, I found a successful rejection of upper diagonal (resistance), which is a sign that buying looks risky. I also found a hidden bearrish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunties. The downward targets arre set at the prices of 1.4175 and 1.4125.

Resistance levels:

R1: 1.4243

R2: 1.4295

R3: 1.4355

Support levels:

S1: 1.4132

S2: 1.4070

S3: 1.4020

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -