FX.co ★ GBP/USD analysis for July 31, 2017

Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3096. According to the 15M time frame, I found a successful breakout of the downward channel. There is also a hidden bullish divergence on the moving average which is another sign of strength. Watch for potential buying opportunities. The upward target is set at the price of 1.3150 (Friday's high).

Resistance levels:

R1: 1.3150

R2: 1.3160

R3: 1.3175

Support levels:

S1: 1.3130

S2: 1.3120

S3: 1.3110

Trading recommendations for today: watch for potential buying opportunities.