Recently, the GBP/USD has been trading sideways at the price of 1.3104. According to the 15M time – frame, I found that price is trading below the pivot level (1.3119), which is a sign that sellers are in control. I also found the successful rejection of supply trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3060 and at the price of 1.3000.
Resistance levels:
R1: 1.3177
R2: 1.3238
R3: 1.3295
Support levels:
S1: 1.3060
S2: 1.3000
S3: 1.2941
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the GBP/USD has been trading sideways at the price of 1.3104. According to the 15M time – frame, I found that price is trading below the pivot level (1.3119), which is a sign that sellers are in control. I also found the successful rejection of supply trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3060 and at the price of 1.3000.
Resistance levels:
R1: 1.3177
R2: 1.3238
R3: 1.3295
Support levels:
S1: 1.3060
S2: 1.3000
S3: 1.2941
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: