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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 12, 2018

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Recently, the GBP/USD has been trading downwards. The price tested the level of 1.4144. Anyway, according to the 30M time – frame, I found a confirmed bullish flag in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average osicllator, which is a sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4245 and at the price of 1.4310.

Resistance levels:

R1: 1.4215

R2: 1.4250

R3: 1.4277

Support levels:

S1: 1.4150

S2: 1.4125

S3: 1.4090

Trading recommendations for today: watch for potential buying opportunities.

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