Recently, GBP/USD has been trading downwards. The price tested the level of 1.3319. Anyway, according to the 1H timeframe, I found a strong rejection from the lower diagonal of the downward channel, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3422 and 1.3540.
Resistance levels:
R1: 1.3436
R2: 1.3485
R3: 1.3525
Support levels:
S1: 1.3350
S2: 1.3312
S3: 1.3267
Trading recommendations for today: watch for potential buying opportunities.
