Recently, the GBP/USD has been trading sideways at the price of 1.2910. According to the 4H time frame, I found shakeout of the swing low and confirmed double bottom formation, which is a sign that selling looks risky. The projected upward target is set at the price of 1.3000. My advice is to watch for potential buying opportuntiies.
Resistance levels:
R1: 1.2878
R2: 1.2889
R3: 1.3000
Support levels:
S1: 1.2860
S2: 1.2850
S3: 1.2840
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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