Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3177. Anyway, according to the 15M time – frame, I found a broken upward channel and potential double top formation, which is a sign that buying looks risky. There is also a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3096 (pivot support 1) and at the price of 1.3055 (swing low).
Resistance levels:
R1: 1.3212
R2: 1.3252
R3: 1.3330
Support levels:
S1: 1.3096
S2: 1.3055
S3: 1.3280
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 upwards. The price tested the level of 1.3177. Anyway, according to the 15M time – frame, I found a broken upward channel and potential double top formation, which is a sign that buying looks risky. There is also a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3096 (pivot support 1) and at the price of 1.3055 (swing low).
Resistance levels:
R1: 1.3212
R2: 1.3252
R3: 1.3330
Support levels:
S1: 1.3096
S2: 1.3055
S3: 1.3280
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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