Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level 1.2420. According to the 15M time frame, I found that sellers are in control and I expect further downward movement. Strong intraday resistance is seen at the price of 1.2465. The supply trendline is still in place. Watch for selling opportunities. Downward target is set at the price of 1.2375.
Resistance levels:
R1: 1.2540
R2: 1.2595
R3: 1.2635
Support levels:
S1: 1.2450
S2: 1.2410
S3: 1.2355
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 downwards. As I expected, the price tested the level 1.2420. According to the 15M time frame, I found that sellers are in control and I expect further downward movement. Strong intraday resistance is seen at the price of 1.2465. The supply trendline is still in place. Watch for selling opportunities. Downward target is set at the price of 1.2375.
Resistance levels:
R1: 1.2540
R2: 1.2595
R3: 1.2635
Support levels:
S1: 1.2450
S2: 1.2410
S3: 1.2355
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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