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28.09.201814:43 Forex Analysis & Reviews: GBP/USD analysis for September 28, 2018

Long-term review

Exchange Rates 28.09.2018 analysis

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3025 and met my first target. According to the H1 time – frame, I found end of the upward correction in the background and the breakout of support trendline, which is a sign that sellers are in control. I also found a successful re-test of resistance after the breakout, which is another sign of weakness. Watch for selling opportunities on the rallies. The downward targets are set at the price of 1.2960 and at the price of 1.2900.

Trading recommendations for today: watch for potential selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
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