Recently, the GBP/USD pair has been trading sideways at the price of 1.3300. According to the 15M time - frame, I found doji candles and bearish enguling pattern around the pivot point (1.3290), which is a sign that a buying looks risky. There is an overbought stochastic oscilator, which is another sign of weakness. My advice is to watch for potential selling opportunties. The downward targets are set at the price of 1.3245 (S1) and the price of 1.3200 (S2)
Resistance levels:
R1: 1.3335
R2: 1.3382
R3: 1.3425
Support levels:
S1: 1.3245
S2: 1.3200
S3: 1.3150
Trading recommendations for today: watch for potential selling opportunities.
