Recently, the GBP/USD has been trading downwards. The price tested the level of 1.3067. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the support 2 (1.3073), which is a sign that selling looks risky. I also found 2 hammer candles, which suggests that buyers are taking control from sellers. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3098 and at the price of 1.3120.
Resistance levels:
R1: 1.3146
R2: 1.3170
R3: 1.3194
Support levels:
S1: 1.3098
S2: 1.3073
S3: 1.3050
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 1.3067. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the support 2 (1.3073), which is a sign that selling looks risky. I also found 2 hammer candles, which suggests that buyers are taking control from sellers. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3098 and at the price of 1.3120.
Resistance levels:
R1: 1.3146
R2: 1.3170
R3: 1.3194
Support levels:
S1: 1.3098
S2: 1.3073
S3: 1.3050
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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