GBP/USD analysis for June 29, 2018


Recently, GBP/USD has been trading upwards. The price tested the level of 1.3183. According to the H1 time frame, I found a broken resistance trendline in the background, which is a sign that buyers are in control. I also found a fake breakout of the previous week low at the price of 1.3100 which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3310.

Resistance levels:

R1: 1.3140

R2: 1.3164

R3: 1.3200

Support levels:

S1: 1.3080

S2: 1.3045

S3: 1.3022

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -