Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3333. According to the H1 time – frame, I found a potential bullish flag in creation, which is a sign that downward movement is limited. My advice is to watch for a potential breakout of the bullish flag to confirm the upward price. The upward target is set at the price of 1.3420.
Resistance levels:
R1: 1.3420
R2: 1.3460
R3: 1.3490
Support levels:
S1: 1.3350
S2: 1.3315
S3: 1.3275
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3333. According to the H1 time – frame, I found a potential bullish flag in creation, which is a sign that downward movement is limited. My advice is to watch for a potential breakout of the bullish flag to confirm the upward price. The upward target is set at the price of 1.3420.
Resistance levels:
R1: 1.3420
R2: 1.3460
R3: 1.3490
Support levels:
S1: 1.3350
S2: 1.3315
S3: 1.3275
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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