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Analysis of GBP/USD for January 24, 2018

Posted On 24 Jan 2018
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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.4118. According to the 30M time frame, I found that price broke the daily pivot resistance 2, which is a sign that buyers are in control. I also found fresh upward cross on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. Intraday upward target is set at the price of 1.4158.

Resistance levels:

R1: 1.4046

R2: 1.4090

R3: 1.4158

Support levels:

S1: 1.3935

S2: 1.3870

S3: 1.3822

Trading recommendations for today: watch for potential buying opportunities.

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

Source:: Analysis of GBP/USD for January 24, 2018

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