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 24, 2018

July 24, 2018 Analytics

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3128. Anyway, according to the H1 time – frame, I found potential buying climax in the background, which is a sign that buying looks risky. I also found a rejection of the supply trendline (resistance), which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3035 and at the price of 1.2960.

Resistance levels:

R1: 1.3147

R2: 1.3190

R3: 1.3222

Support levels:

S1: 1.3072

S2: 1.3040

S3: 1.2997

Trading recommendations for today: watch for potential selling opportunities.

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

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