Recently, the GBP/USD pair has been trading sideways at the price of 1.2840. Anyway, according to the 30M time frame, I found a fake breakout of the yesterday's high and strong buyers' reaction. There is also a hidden bullish divergence on the moving average oscilator and confirmed double bottom formation. These are signs of strength. My advice is to watch for potential buying opportunties. The upward target is set at the price of 1.2885.
Resistance levels:
R1: 1.2885
R2: 1.2910
R3: 1.2945
Support levels:
S1: 1.2810
S2: 1.2785
S3: 1.2750
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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