GBP/USD analysis for July 12, 2018

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Recently, EUR/USD has been trading downwards. The price tested the level of 1.1665. According to the H1 time – frame, I found a potential bearish flag pattern in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if you see a valid breakout of the flag pattern. The downward targets are set at the price of 1.1600 and at the price of 1.1530.

Resistance levels: R1: 1.3260 R2: 1.3315 R3: 1.3350

Support levels: S1: 1.3177 S2: 1.3145 S3: 1.3090

Trading recommendations for today: watch for potential selling opportunities.

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

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