Analysis of GBP/USD for March 30, 2018

analytics5abe076601cdc.png

Recently, gold has been trading downwards. As I expected, the price tested the level of $1,321.26. I found strong rejection of the upper diagonal of the channel in the background, which caused the price to go lower. I still don't see any signs of strength and my advice is to watch for selling opportunities. The downward target is set at the price of $1,307.80.

Resistance levels:

R1: $1,340.06

R2: $1,355.35

R3: $1,383.61

Support levels:

S1: $1,316.48

S2: $1,308.20

S3: $1,292.90

Trading recommendations for today: watch for potential selling opportunities.

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