Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2239. According to the 4H time frame, there is still space for further rise and that selling looks risky. I found that sellers don’t have power to react on strong demand which is a sign of strength. My advice is to watch for buying opportunties. The first target is set at 1.2300.
Resistance levels:
R1: 1.2176
R2: 1.2180
R3: 1.2190
Support levels:
S1: 1.2150
S2: 1.2140
S3: 1.2130
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 upwards. The price tested the level of 1.2239. According to the 4H time frame, there is still space for further rise and that selling looks risky. I found that sellers don’t have power to react on strong demand which is a sign of strength. My advice is to watch for buying opportunties. The first target is set at 1.2300.
Resistance levels:
R1: 1.2176
R2: 1.2180
R3: 1.2190
Support levels:
S1: 1.2150
S2: 1.2140
S3: 1.2130
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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