GBP/USD analysis for July 18, 2018

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Recently, GBP/USD has been trading downwards. The price tested the level of 1.3009. According to the H1 time – frame, I found strong supply on the market. My advice is to watch for selling opportunities on the rallies. Watch for a potential bearish flag before you sell. The projected downward targets are set at the price of 1.2950 and at the price of 1.2900.

Resistance levels: R1: 1.3226R2: 1.3347 R3: 1.3425

Support levels: S1: 1.3027 S2: 1.2950 S3: 1.2828

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com