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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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GBP/USD analysis for May 02, 2017

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Recently, the GBP/USD has been trading sideways at the price of 1.2900. According to the 4H time frame, the price has broken the bullish flag formation, which is a sign that buyers are in control. The short – term trend is bullish. My advice is to watch for potential buying opportunities. The first upward target Is set at the price of 1.3025.

Resistance levels:

R1: 1.2935

R2: 1.2955

R3: 1.2985

Support levels:

S1: 1.2875

S2: 1.2860

S3: 1.2830

Trading recommendations for today: watch for potential buying opportunities.

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