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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 May 01, 2018

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Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3666. Anyway, according to the M30 time – frame, I found a successful rejection of the support trendline, which is a sign that selling looks risky. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3775.

Resistance levels:

R1: 1.3800

R2: 1.3836

R3: 1.3880

Support levels:

S1: 1.3720

S2: 1.3678

S3: 1.3640

Trading recommendations for today: watch for potential buying opportunities.

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