Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.2921. Anyway, according to the 30M time frame, I found a fake breakout of Tuesday's high and a strong divergent bar, which is a sign that buying look risky today. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2770 (yesterday's low).
Resistance levels:
R1: 1.2915
R2: 1.2950
R3: 1.3005
Support levels:
S1: 1.2800
S2: 1.2765
S3: 1.2705
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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