GBP/USD analysis for September 11, 2018

analytics5b97a75309742.png

Recently, the GBP/USD pair has been trading sideways at the price of 1.3018. Anyway, I found a fake breakout of the 2-week high at the price of 1.3042 (strong resistance), which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscillator and breakout of the support trendline, which is another sign of weakness. Watch for selling opportunities. The downward target is set at the price of 1.2920.

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