Recently, the GBP/USD pair has been trading downwards. The price dropped 320 pips and tested the level of 1.2634. Anyway, I found that there is strong selling climax (a sign of strength) in the background and a successful test of supply in a low volume, which is a sign that selling looks risky. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2827 and the price of 1.2955.
Resistance levels:
R1: 1.2775
R2: 1.2845
R3: 1.2900
Support levels:
S1: 1.2655
S2: 1.2615
S3: 1.2540
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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