Recently, the GBP/USD pair has been trading sideways at the price of 1.3260 According to the H1 time – frame, I found a potential bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the upward trendline to confirm further downward continuation. The downward target is set at the price of 1.3200.
R1: 1.3320
R2: 1.3380
R3: 1.3440
Support levels:
S1: 1.3200
S2: 1.3140
S3: 1.3080
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 sideways at the price of 1.3260 According to the H1 time – frame, I found a potential bearish flag in creation, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the upward trendline to confirm further downward continuation. The downward target is set at the price of 1.3200.
R1: 1.3320
R2: 1.3380
R3: 1.3440
Support levels:
S1: 1.3200
S2: 1.3140
S3: 1.3080
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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