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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 September 06, 2018

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2982. According to the H4 time – frame, I found that price rejected from the Fibonacci retracement 61.8% (1.2810) in the background, which is a sign of further strength. I also found that MACD and Stochastic oscillator showing the bullish trend and the price is trading above the 3DMA, which is a sign that buyers are in control. I placed Fibonacci expansion tool to find potential upward targets. Profit targets are set at the price of 1.3020 (FE 61.8%) and at the price of 1.3160.

Trading recommendations for today: watch for buying opportunities.

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