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11.09.201813:32 Forex Analysis & Reviews: GBP/USD analysis for September 11, 2018

Long-term review
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Exchange Rates 11.09.2018 analysis

Recently, the GBP/USD pair has been trading sideways at the price of 1.3018. Anyway, I found a fake breakout of the 2-week high at the price of 1.3042 (strong resistance), which is a sign that buying looks risky. I also found a hidden bearish divergence on the MACD oscillator and breakout of the support trendline, which is another sign of weakness. Watch for selling opportunities. The downward target is set at the price of 1.2920.

Petar Jacimovic
Analytical expert of InstaForex
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