Recently, the GBP/USD pair has been trading sideways at the price of 1.3350. According to the 15M time – frame, I found successful rejection from the pivot resistance 1 at the price of 1.3365. I also found a simmetrical triangle in creation together with hidden bearish divergence on the stochastic oscillator, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3303, 1.3287 and at the price of 1.3255.
Resistance levels:
R1: 1.3365
R2: 1.3410
R3: 1.3440
Support levels:
S1: 1.3287
S2: 1.3255
S3: 1.3210
Trading recommendations for today: watch for potential selling opportunities.
