Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3666. Anyway, according to the M30 time – frame, I found a successful rejection of the support trendline, which is a sign that selling looks risky. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3775.
Resistance levels:
R1: 1.3800
R2: 1.3836
R3: 1.3880
Support levels:
S1: 1.3720
S2: 1.3678
S3: 1.3640
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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