Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3120. Anyway, according to the H1 time frame, I found the rejection of the support (upward trendline), which is a sign that selling looks risky. I also found breakout of the intraday supply trendline, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3175 and at the price of 1.3212.
Resistance levels:
R1: 1.3128
R2: 1.3143
R3: 1.3160
Support levels:
S1: 1.3097
S2: 1.3080
S3: 1.3065
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3120. Anyway, according to the H1 time frame, I found the rejection of the support (upward trendline), which is a sign that selling looks risky. I also found breakout of the intraday supply trendline, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3175 and at the price of 1.3212.
Resistance levels:
R1: 1.3128
R2: 1.3143
R3: 1.3160
Support levels:
S1: 1.3097
S2: 1.3080
S3: 1.3065
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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