Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2703. Anyway, according to the 30M time frame, I found buying climax in the background followed by no buying presure, which is a sign for potential distribution (selling). My advice is to watch for selling opportunities. The downward targets are set at 1.2640 and 1.2590.
Resistance levels:
R1: 1.2730
R2: 1.2780
R3: 1.2850
Support levels:
S1: 1.2600
S2: 1.2530
S3: 1.2480
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2703. Anyway, according to the 30M time frame, I found buying climax in the background followed by no buying presure, which is a sign for potential distribution (selling). My advice is to watch for selling opportunities. The downward targets are set at 1.2640 and 1.2590.
Resistance levels:
R1: 1.2730
R2: 1.2780
R3: 1.2850
Support levels:
S1: 1.2600
S2: 1.2530
S3: 1.2480
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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