Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3015. Anyway, according to 15M time frame, I found a fake breakout and strong rejection of the yesterday's high at 1.3000. There is also a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the prices of 1.2927 and 1.2890.
Resistance levels:
R1: 1.2995
R2: 1.3015
R3: 1.3040
Support levels:
S1: 1.2940
S2: 1.2920
S3: 1.2890
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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