Recently, the GBP/USD has been upwards. The price tested the level of 1.3320 in an ultra high volume. Anyway, according to the 15M time - frame, I found a strong sign of weakness and rejection from pivot resistance 1 at the price of 1.3315, which may leady GBP/USD lower. There is also divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 1.3220 (Support 1) and at the price of 1.3160 (support 2).
Resistance levels:
R1: 1.3317
R2: 1.3350
R3: 1.3415
Support levels:
S1: 1.3220
S2: 1.3160
S3: 1.3123
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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