GBP/USD analysis for July 30, 2018
Recently, the GBP/USD pair has been trading sideways at the price of 1.3108. Anyway, according to the H1 time – frame, I found a potential bearish flag pattern in creation, which is sign that buying looks risky. I also found a breakout of the upward trendline in the background, which is another sign of weakness. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of 1.3070 and at the price of 1.2960.
Trading recommendations for today: watch for potential selling opportunities.