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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 25, 2018

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Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3212. Anyway, according to the H4 time – frame, I found the successful rejection of the upper band (Keltner channel), which is a sign that buying looks risky. I also found a hidden bearish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.3075.

Resistance levels:

R1: 1.1763

R2: 1.1788

R3: 1.1837

Support levels:

S1: 1.1689

S2: 1.1640

S3: 1.1615

Trading recommendations for today: watch for potential selling opportunities.

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