Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2705. According to the 4H time frame, I found a successful test of 21SMA and a strong close of the bar, which are signs that selling looks risky. My advice is to watch for potential buying opportuntiies. The upward targets are set at the levels of 1.2755 and 1.2810.
Resistance levels:
R1: 1.2760
R2: 1.2780
R3: 1.2810
Support levels:
S1: 1.2710
S2: 1.2685
S3: 1.2660
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2705. According to the 4H time frame, I found a successful test of 21SMA and a strong close of the bar, which are signs that selling looks risky. My advice is to watch for potential buying opportuntiies. The upward targets are set at the levels of 1.2755 and 1.2810.
Resistance levels:
R1: 1.2760
R2: 1.2780
R3: 1.2810
Support levels:
S1: 1.2710
S2: 1.2685
S3: 1.2660
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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