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19.04.201714:04 Forex Analysis & Reviews: GBP/USD analysis for April 19, 2017

Long-term review
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Exchange Rates 19.04.2017 analysis

Recently, the GBP/USD has been trading upwards after the price minister May speech. Anyway, according to the 30M time frame, I found that weakness has appeared. There is a bullish bar with close on the middle, which is sign that there is a weakness. Also, there is hidden bearish divergence on the oscilator, which is another sign of weakness. Be very careful when buying GBP/USD and watch for potential selling opportunities.

Resistance levels:

R1: 1.2850

R2: 1.2875

R3: 1.2900

Support levels:

S1: 1.2810

S2: 1.2790

S3: 1.2765

Trading recommendations for today: watch for potential selling opportunities.

Petar Jacimovic
Analytical expert of InstaForex
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