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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 21, 2018

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Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.2845. According to the M30 time – frame, I found that price is trading inside the rising regression channel, which is a sign that buyers are in control. I also found oversold conditions on the stochastic, which is another sign of strength. My advice is to watch for buying opportunities with take profit at 1.2887.

Resistance levels:

R1: 1.2820

R2: 1.2845

R3: 1.2890

Support levels:

S1: 1.2750

S2: 1.2705

S3: 1.2680

Trading recommendations for today: watch for potential buying opportunities.

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