Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3096. According to the 15M time frame, I found a successful breakout of the downward channel. There is also a hidden bullish divergence on the moving average which is another sign of strength. Watch for potential buying opportunities. The upward target is set at the price of 1.3150 (Friday’s high).
Resistance levels:
R1: 1.3150
R2: 1.3160
R3: 1.3175
Support levels:
S1: 1.3130
S2: 1.3120
S3: 1.3110
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 has been trading downwards. The price tested the level of 1.3096. According to the 15M time frame, I found a successful breakout of the downward channel. There is also a hidden bullish divergence on the moving average which is another sign of strength. Watch for potential buying opportunities. The upward target is set at the price of 1.3150 (Friday’s high).
Resistance levels:
R1: 1.3150
R2: 1.3160
R3: 1.3175
Support levels:
S1: 1.3130
S2: 1.3120
S3: 1.3110
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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