Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3979. Anyway, according to the 30M time – frame, I found a bullish breakout of the supply trendline (resistance), which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average oscillator and a fake breakout of yesterday’s low, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4092 and at the price of 1.4150.
Resistance levels:
R1: 1.4148
R2: 1.4220
R3: 1.4280
Support levels:
S1: 1.4015
S2: 1.3950
S3: 1.3880
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 1.3979. Anyway, according to the 30M time – frame, I found a bullish breakout of the supply trendline (resistance), which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average oscillator and a fake breakout of yesterday’s low, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.4092 and at the price of 1.4150.
Resistance levels:
R1: 1.4148
R2: 1.4220
R3: 1.4280
Support levels:
S1: 1.4015
S2: 1.3950
S3: 1.3880
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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