Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3263. According to the 30M time frame, I found a breakout of Friday's low at the price of 1.3350, which is a sign that sellers are in control. The price also broke a downward trendline, which is another sign of weakness. I placed Fibonacci to find potential downward targets. I got FR 50% at the price of 1.3215 and FR 61.8% at the price of 1.3120. Watch for potential selling opportunities.
Resistance levels:
R1: 1.3350
R2: 1.3395
R3: 1.3425
Support levels:
S1: 1.3280
S2: 1.3255
S3: 1.3215
Trading recommendations for today: watch for potential selling opportunities.
