GBP/USD analysis for August 11, 2017
Recently, the GBP/USD has been sideways at the price of 1.2975. Anyway, according to the 30M time frame, I found that price is testing a supply trendline, which is a sign that buying looks risky. I also found a downward channel and my advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.2950 and 1.2910. The short term trend is bearish.
Trading recommendations for today: watch for potential selling opportunities.The material has been provided by InstaForex Company - www.instaforex.com