18.09.201714:08 Forex Analysis & Reviews: GBP/USD analysis for September 18, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3618. Anyway, according to the 15M time frame, I found a broken trading range and a fake breakout of Friday's high at the price of 1.3616, which is a sign that buying looks risky. There is a hidden bearish divergence on the RSI oscilator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3450 and 1.3385.

Resistance levels:

R1: 1.3612

R2: 1.3634

R3: 1.3650

Support levels:

S1: 1.3575

S2: 1.3560

S3: 1.3530

Trading recommendations for today: watch for potential selling opportunities.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.