Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3164. According to the 15M time frame, I found a broken 3-day trading range, which is a sign that sellers are in control. I also found a weak demand in the reaction of bearish breakout, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3130 and 1.3085.
Resistance levels:
R1: 1.3235
R2: 1.3280
R3: 1.3310
Support levels:
S1: 1.3160
S2: 1.3130
S3: 1.3090
Trading recommendations for today: watch for potential selling opportunities.
