Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3984. According to the M15 time – frame, I found a successful breakout of the upward trendline in the background, which is a sign that buying looks risky. I also found a strong downward pressure in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3967 and at the price of 1.3865.
Resistance levels:
R1: 1.4064
R2: 1.4120
R3: 1.4150
Support levels:
S1: 1.3978
S2: 1.3950
S3: 1.3890
Trading recommendations for today: watch for potential selling 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 1.3984. According to the M15 time – frame, I found a successful breakout of the upward trendline in the background, which is a sign that buying looks risky. I also found a strong downward pressure in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3967 and at the price of 1.3865.
Resistance levels:
R1: 1.4064
R2: 1.4120
R3: 1.4150
Support levels:
S1: 1.3978
S2: 1.3950
S3: 1.3890
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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