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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.

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GBP/USD analysis for April 06, 2018

analytics5ac7275e92193.png

Recently, the GBP/USD pair has been downwards. The price tested the level of 1.3965. According to the 15M time – frame, I found that price is trading inside of the downward channel, which is a sign that sellers are in control. I also marked waves inside of the channel and I expect fifth wave to develope. My advice is to watch for potential selling opportunities. The downward projection for the fifth wave is set at the price of 1.3890.

Resistance levels:

R1: 1.4080

R2: 1.4155

R3: 1.4210

Support levels:

S1: 1.3948

S2: 1.3890

S3: 1.3815

Trading recommendations for today: watch for potential selling opportunities.

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