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Analysis of GBP/USD for July 25, 2017

Posted On 25 Jul 2017
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Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3007. According to the 30M time frame, I found that the pair is trading in the upward channel and that there is a successful testing of lower diagonal. Besides, I found a hidden bullish divergence on the moving average oscilator, which is another sign of strength. My advice is to watch for potential buying opportuntiies. The upward targets are set at 1.3055 and 1.3100.

Resistance levels:

R1: 1.3060

R2: 1.3090

R3: 1.3125

Support levels:

S1: 1.3000

S2: 1.2960

S3: 1.2930

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 July 25, 2017

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