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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 18, 2017

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Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3005. Anyway, according to the 15M time frame, I found selling climax in the background and testing of supply in a low volume, which Is sign that selling looks risky. There is also a hidden bullish divergence on the RSI (14), which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3045, 1.3065 and 1.3080.

Resistance levels:

R1: 1.3110

R2: 1.3170

R3: 1.3215

Support levels:

S1: 1.3000

S2: 1.2950

S3: 1.2890

Trading recommendations for today: watch for potential buying opportunities.

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