Recently, the GBP/USD pair has been trading sideways at the price of 1.3890. According to the 30M time - frame, I found a confirmed intraday reversal head-and-shoulders formation, which is a sign that selling looks risky. I also found a breakout of the pivot level at the price of 1.3880, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.392 and at the price of 1.3985.
Resistance levels:
R1: 1.3922
R2: 1.3985
R3: 1.4029
Support levels:
S1: 1.3815
S2: 1.3773
S3: 1.3708
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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