Analysis of GBP/USD for January 24, 2018 24.01.2018

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Exchange Rates 24.01.2018 analysis

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.4118. According to the 30M time frame, I found that price broke the daily pivot resistance 2, which is a sign that buyers are in control. I also found fresh upward cross on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. Intraday upward target is set at the price of 1.4158.

Resistance levels:

R1: 1.4046

R2: 1.4090

R3: 1.4158

Support levels:

S1: 1.3935

S2: 1.3870

S3: 1.3822

Trading recommendations for today: watch for potential buying opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2018

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