GBP/USD analysis for July 19, 2017

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Recently, the GBP/USD has been trading sideways at the price of 1.3025 According to the 30M time frame, I found that strong supply entered the market in the background. Today, I found no demand bars and up-thrust bars, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3005, 1.2990 and 1.2945.

Resistance levels:

R1: 1.3065

R2: 1.3080

R3: 1.3110

Support levels:

S1: 1.3025

S2: 1.3000

S3: 1.2985

Trading recommendations for today: watch for potential selling opportunities.

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

Source:: GBP/USD analysis for July 19, 2017

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