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02.07.202013:29 GBP/USD analysis for July 02, 2020 - Watch for selling opportunities due to overbought condiiton on the GBP

Corona virus summary:

Exchange Rates 02.07.2020 analysis

West Bank has gone into lockdown as virus numbers soar. The Palestinian Authority has announced a five-day lockdown across the West Bank after the total confirmed coronavirus infections in the territory more than doubled following the easing of previous restrictions.

Technical analysis:

Trading recommendation:

Watch for potential selling opportunities due to overbought condiiton and bearish divergence on the Stochastic oscillator.

Downward targets are set at the price of 1,2487 and 1,2463

Resistance is set at 1,2525

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

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020
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