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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 June 14, 2017

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Recently, the GBP/USD has been trading sideways at the price of 1.2735. The analysis from yesterday is still active. According to the 4H time frame, I found the bullish Wolfe Wave pattern and a potential double bottom formation, which is a sign that selling looks risky. My advice is to watch for potetnial buying opportunities. The upward targets are set at the prcie of 1.3000 and 1.3050.

Resistance levels:

R1: 1.2795

R2: 1.2840

R3: 1.2915

Support levels:

S1: 1.2675

S2: 1.2600

S3: 1.2555

Trading recommendations for today: watch for potential buying opportunities.

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