Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3566 . According to the 30M time – frame, I found a breakout of the previous high at the price of 1.3543, which is a sign that selling looks risky. The trend is bullish and my advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find potential upward targets. I got FE 61.8% at the price of 1.3582 and FE 100% at price of 1.3610.
Resistance levels:
R1: 1.3516
R2: 1.3529
R3: 1.3550
Support levels:
S1: 1.3495
S2: 1.3490
S3: 1.3468
Trading recommendations for today: watch for potential buying opportunities.
