Recently, the GBP/USD has been trading sideways at the price of 1.2850. Anyway, according to the 30M time frame, I found confirmed resistance at the price of 1.2915, which is a sign that buying looks risky. My advice is to watch for selling opportunities. There is also a divergent bar in the background, which is another sign of weakness. The downward targets are set at the price of 1.2830 and 1.2770.
Resistance levels:
R1: 1.2925
R2: 1.2960
R3: 1.3000
Support levels:
S1: 1.2840
S2: 1.2790
S3: 1.2755
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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