Recently, the GBP/USD pair has been trading downawrds. As I expected, the price tested the level of 1.3023. According to the 4H time frame, I found a breakout of the rising wedge formation in the background and my advice is to watch for potential selling opportuntiies. The first downward target is set at the price of 1.2950.
Resistance levels:
R1: 1.3050
R2: 1.3060
R3: 1.3070
Support levels:
S1: 1.3040
S2: 1.3030
S3: 1.3025
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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