Recently, the GBP/USD has been trading upwards. The price tested the level of 1.2840. Anyway, according to the 30M time frame, I found fake breakout of 2-day high and weakness in the background, which is a sign that buying looks risky. The weekly average 240SMA is also on the test. There is also an evening star formation, which is another bearish sign. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2780.
Resistance levels:
R1: 1.2835
R2: 1.2870
R3: 1.2900
Support levels:
S1: 1.2765
S2: 1.2735
S3: 1.2700
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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