Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3127. Anyway, according to the 15M time-frame, I found successful rejection from the pivot resistance 1 at the price of 1.3125, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.3082 (pivot level) and 1.3032 (pivot support 1).
Resistance levels:
R1: 1.3125
R2: 1.3175
R3: 1.3218
Support levels:
S1: 1.3023
S2: 1.2989
S3: 1.2940
Trading recommendations for today: watch for potential selling opportunities.
