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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 August 03, 2018

analytics5b64178f65006.png

Recently, the GBP/USD has been trading downwards. The price tested the level of 1.2975. Anyway, according to the H1 time – frame, I found that price has stopped at the support 1 (1.2977), which is a sign that selling looks risky. I also found a hidden bullish divergence on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3012 and at the price of 1.3050.

Resistance levels:

R1: 1.3090

R2: 1.3163

R3: 1.3200

Support levels:

S1: 1.2980

S2: 1.2940

S3: 1.2868

Trading recommendations for today: watch for potential buying opportunities.

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