GBP/USD analysis for July 12, 2018
Recently, EUR/USD has been trading downwards. The price tested the level of 1.1665. According to the H1 time – frame, I found a potential bearish flag pattern in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if you see a valid breakout of the flag pattern. The downward targets are set at the price of 1.1600 and at the price of 1.1530.
Resistance levels: R1: 1.3260 R2: 1.3315 R3: 1.3350
Support levels: S1: 1.3177 S2: 1.3145 S3: 1.3090
Trading recommendations for today: watch for potential selling opportunities.