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GBP/USD analysis for April 17, 2018

Posted On 17 Apr 2018
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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.4375. Anyway, I found rejection of the upper diagonal of the upward channel, which is a sign that GBP/USD is in potential bearish correction. The short – mid term trend is still bullish and my advice is to buy on dips. Support level is set at the price of 1.4297 (previous swing high). My advice is to wach for potential buying opportunities. The upward target is set at the price of 1.4375.

Resistance levels:

R1: 1.4379

R2: 1.4420

R3: 1.4493

Support levels:

S1: 1.4264

S2: 1.4190

S3: 1.4150

Trading recommendations for today: watch for potential buying opportunities.

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

Source:: GBP/USD analysis for April 17, 2018

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