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22.06.201714:02 Forex Analysis & Reviews: Analysis of GBP/USD for June 22, 2017

Long-term review

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2703. Anyway, according to the 30M time frame, I found buying climax in the background followed by no buying presure, which is a sign for potential distribution (selling). My advice is to watch for selling opportunities. The downward targets are set at 1.2640 and 1.2590.

Resistance levels:

R1: 1.2730

R2: 1.2780

R3: 1.2850

Support levels:

S1: 1.2600

S2: 1.2530

S3: 1.2480

Trading recommendations for today: watch for potential selling opportunities.

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