Technical outlook and chart setups:
1. The GBP/USD pair looks to have done its first downswing around 1.6930 levels and should be looking to pullback in a corrective manner. However, a push below 1.6900 could trigger fresh bearish moves into the 1.6700's.
2. Support is seen at 1.6900, followed by 1.6700/20 while resistance is seen at 1.7090/1.7100, followed by 1.7190 respectively.
3. The structure indicates that GBP/USD could be sold on rallies towards 1.7090 levels in the sessions to come.
Trading recommendations:
Prepare to sell around 1.7090 levels, stop 1.7200, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of GBP/USD for July 30, 2014 . Thanks for your support on Technical analysis of GBP/USD for July 30, 2014
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