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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 April 11, 2018

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Recently, the GBP/USD has been trading upwards. The price tested the level of 1.4222. Anyway, according to the 30M time – frame, I found a potential rising wedge in creation, which is a sign that buying looks risky. I also found a hidden bearish divergence on the LBR oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities if you see a breakout of a lower diagonal. The downward target is set at the price of 1.4080.

Resistance levels:

R1: 1.4202

R2: 1.4225

R3: 1.4270

Support levels:

S1: 1.4135

S2: 1.4095

S3: 1.4066

Trading recommendations for today: watch for potential selling opportunities.

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