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Analysis of GBP/USD for June 26, 2017

Posted On 26 Jun 2017
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Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2705. According to the 4H time frame, I found a successful test of 21SMA and a strong close of the bar, which are signs that selling looks risky. My advice is to watch for potential buying opportuntiies. The upward targets are set at the levels of 1.2755 and 1.2810.

Resistance levels:

R1: 1.2760

R2: 1.2780

R3: 1.2810

Support levels:

S1: 1.2710

S2: 1.2685

S3: 1.2660

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 June 26, 2017

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