analytics591aea8aa1db1.png

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2957. Anyway, according to the 1H time frame, I found a fake breakout of yesterday’s high, which is a sign of weakness. There is a strong up-thrust (a reversal bar) in the background, which is another sign that sellers are in control today on GBP/USD. My advice is to watch for selling opportunties. The downward targets are set at the price of 1.2840 and 1.2760

Resistance levels:

R1: 1.2927

R2: 1.2935

R3: 1.2940

Support levels:

S1: 1.2910

S2: 1.2905

S3: 1.2895

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.