Recently, the GBP/USD pair has been trading sideways at the price of 1.3372. According to the 15M time - frame, I found a broken intraday bearish flag in the background, which is a sign that buying looks risky. I also found overbought conditions on the stochastic oscillator. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3320 (pivot support 1) and at the price of 1.3255 (pivot support 2).
Resistance levels:
R1: 1.3432
R2: 1.3480
R3: 1.3545
Support levels:
S1: 1.3320
S2: 1.3255
S3: 1.3206
Trading recommendations for today: watch for potential selling opportunities.
