Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level 1.2527. According to the 1H time frame, I found that price is trading inside of well defined upward channel. The GBP/USD is in upward cycle. My advice is to watch for potential buying opportunities. The price successfully tested the lower diagonal of upward channel, which is good sign of strength. Upward targets are set at the price of 1.2560 and 1.2650.
Resistance levels:
R1: 1.2500
R2: 1.2520
R3: 1.2550
Support levels:
S1: 1.2435
S2: 1.2415
S3: 1.2385
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. As I expected, the price tested the level 1.2527. According to the 1H time frame, I found that price is trading inside of well defined upward channel. The GBP/USD is in upward cycle. My advice is to watch for potential buying opportunities. The price successfully tested the lower diagonal of upward channel, which is good sign of strength. Upward targets are set at the price of 1.2560 and 1.2650.
Resistance levels:
R1: 1.2500
R2: 1.2520
R3: 1.2550
Support levels:
S1: 1.2435
S2: 1.2415
S3: 1.2385
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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