Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

GBP/USD analysis for July 19, 2018

July 19, 2018 Analytics

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Recently, GBP/USD has been trading downwards. The price tested the level of 1.2982. Anyway, according to the M30 time – frame, I found 2-hour balance and a potential fake breakout of the support, which is a sign that selling at this stage looks risky. My advice is to watch for a potential breakout of the 1.3020 to confirm a further upward movement. The upward target is set at the price of 1.3080.

Resistance levels: R1: 1.3125R2: 1.3175 R3: 1.3230 Support levels: S1: 1.3020S2: 1.2960 S3: 1.2915

Trading recommendations for today: watch for potential buying opportunities.

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

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