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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 July 24, 2018

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3128. Anyway, according to the H1 time – frame, I found potential buying climax in the background, which is a sign that buying looks risky. I also found a rejection of the supply trendline (resistance), which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3035 and at the price of 1.2960.

Resistance levels:

R1: 1.3147

R2: 1.3190

R3: 1.3222

Support levels:

S1: 1.3072

S2: 1.3040

S3: 1.2997

Trading recommendations for today: watch for potential selling opportunities.

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