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13.08.201813:19 Forex Analysis & Reviews: GBP/USD analysis for August 13, 2018

Long-term review

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Recently, the GBP/USD pair has been trading sideways at the price of 1.2750. According to the M30 time – frame, I found that price is trading inside of the trading range between the price of 1.2790 (resistance) and the price of 1.2722 (support). I also found that price is trading below the pivot level and that GBP/USD is following a downward trajectory, which is a sign that you should watch for selling opportunities if you see a valid breakout of support. The downward targets are set at the price of 1.2666 and at the price of 1.2605.

Resistance levels:

R1: 1.2830

R2: 1.2890

R3: 1.2945

Support levels:

S1: 1.2715

S2: 1.2662

S3: 1.2605

Trading recommendations for today: watch for potential selling opportunities.

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