Recently, the GBP/USD pair has been trading upward. The price tested the level of 1.3222 in a high volume. According to the 30M time frame, I found a broken bullish pennant formation, which is a sign that selling looks risky. Another sign of strength is that price covered down gap from the opening this week. My advice is to watch for potential buying opportunities. The short-term trend is billish. The upward targets are set at the price of 1.3250 and the price of 1.3300.
Resistance levels:
R1: 1.3200
R2: 1.3112
R3: 1.3225
Support levels:
S1: 1.3185
S2: 1.3170
S3: 1.3160
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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