Recently, the GBP/USD pair has been trading downwards. The price tested the level 1.2214. Anyway, according to the 5M time frame, I found decreasing of bearish momentum, which is sign that selling looks risky. Moving average oscilator is showing the divergence and decreasing in momentum and my advice is to watch for potential intraday buying opportunities. Targets are set at the price of 1.2245, 1.2260 and 1.2270.
Resistance levels:
R1: 1.2295
R2: 1.2310
R3: 1.2340
Support levels:
S1: 1.2245
S2: 1.2230
S3: 1.2200
Trading recommendations for today: watch for potential intraday buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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