Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3139. According to the 15M time - frame, I found strong rejection from sellers at the pivot point at the price of 1.3212, which is a sign that buying looks risky. Stochastic oscilator is in the overbought zone, which is another sign that buying looks risky. The short-term trend is bearish. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3135 (S1) and 1.3080 (S2).
Resistance levels:
R1: 1.3270
R2: 1.3345
R3: 1.3400
Support levels:
S1: 1.3135
S2: 1.3080
S3: 1.3005
Trading recommendations for today: watch for potential selling opportunities.
